Week Thoughts: Oil Down, Midstream Down

It wasn’t the best week for midstream stocks, with around 3% drop across midstream on average. Lower oil prices were the primary driver, it feels like. There’s a major NYC energy conference hosted by JPM in the coming week that could be an opportunity for upstream and midstream companies to provide updates to activity and spending. We already had a few capex updates in midstream this week ahead of the conference.