The Organization of the Petroleum Exporting Countries (OPEC) announced Sunday that it will be staying with its announced production quotas and will keep them in place at least until the summer of 2023.
When you combine that with the potential for a new Covid policy and a reopening of China, where enforced draconian lockdowns caused massive protests, you may have all the ingredients in place for a large price spike in crude oil. The black gold is down close to 40% from highs printed last summer, and some top industry leaders think that prices could be headed back to the $100 range.
Given that energy is the only sector that has shown any strength this year, and many of the top stocks have all backed up from their summertime highs, we screened our 24/7 Wall St. energy research database looking for the Buy-rated stocks that are best values with the biggest dividends. Six stocks hit our screen.
This post originally appeared at 24/7 Wall St.