The Best Oil Stocks to Buy and Sell Right Now

Shah Gilani|April 6, 2023

Markets are caught up in a familiar “push me, pull you” action as the battle of narratives continues and people speculate on whether recession fears are going to push the Federal Reserve to pause rate hikes and reverse course.

You know where I stand – I’ve been saying for a while that barring some kind of economic calamity, the Fed is going to stick to its guns until inflation gets back down to that 2% target. But that doesn’t mean that a rally is out of the question, at least for now.

Markets are closed tomorrow for Good Friday, and that’s interesting, because the jobs report is also coming out tomorrow, and if the numbers don’t look good, we could see a big push going into next week. I know that may sound counter-intuitive, but we’re in a “bad is good” space right now – anything that makes it seem more likely that the Fed will get spooked and lower rates is a positive signal for the market.

My advice to you: enjoy whatever rally we have while it lasts, because the longer-term outlook is not great. I’ll be talking about how to prepare for that in more depth in tomorrow’s Total Wealth article, but today, I want to turn your attention to a sector that’s brimming with opportunities right now – oil and gas.

Thanks to OPEC+ putting a floor under oil prices by cutting production, a lot of energy stocks are primed for big gains as long as demand stays high. On my live show this week, I reviewed a handful of your favorite oil and gas stocks: Baker Hughes Company (BKR),  EOG Resources Inc. (EOG), Murphy Oil Corp (MUR), ConocoPhillips (COP), Pioneer Natural Resources Company (PXD), and several more.

To see how they did, just watch the video below:

[bc_video video_id=”6324091059112″ account_id=”4250799609001″ player_id=”default” embed=”in-page” padding_top=”56%” autoplay=”” min_width=”0px” playsinline=”” picture_in_picture=”” max_width=”640px” mute=”” width=”100%” height=”100%” aspect_ratio=”16:9″ sizing=”responsive” ]

Keep an eye on your inboxes for tomorrow’s article, and we’ll see you next week.