- 2021 has been a strong year for many energy companies
- Crude prices are falling this holiday season, but there’s enough reason to be optimistic
- U.S. oil and gas companies continue to see strong opportunities both in the U.S., and abroad
Oilprice.com reports the top 5 oil And gas picks for 2022.
Oil prices under pressure
With the year drawing to a close, it’s time for investors to recalibrate their portfolios. The current year has been an annus mirabilis for energy investors thanks to high energy prices. But the oil markets continue to be volatile and turbulent thanks to the pandemic and the ongoing energy transition.
Oil prices have come under pressure, again, with WTI sinking to $67/bbl on Monday as Omicron threat continues to loom over winter holidays in Europe and the U.S. Rapidly increasing cases of the new variant have stoked investor worries that new mobility restrictions to combat its spread could hit fuel demand, as the Netherlands enters lockdown to battle its spread.
ConocoPhillips CEO Ryan Lance has, however, warned that government pressure on energy producers to halt investments in new oil, gas, and coal production and new questions about OPEC’s spare production capacity are, “setting up for a messy transition” and could lead to energy price volatility.
“To have an orderly transition, oil and gas are part of the solution, not the problem,” Hess CEO John Hess has said. However, whereas the U.S. government will withhold support, it will not actively seek to prevent U.S. companies from building fossil fuel projects overseas, and oil and gas will continue to be the world’s primary energy source for years, if not decades.
Here are the top oil and gas picks for 2022.
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Source: Oil Price
