After an outstanding 2022, the energy sector is positioned to perform significantly well in 2023, driven by the sustained demand for oil and gas and constrained supplies due to further oil cuts by OPEC+. The supply-and-demand dynamics would boost energy prices this year despite the uncertain macroeconomic environment.
Given their financial weakness and bleak growth prospects, it could be wise to avoid struggling energy stocks NextDecade Corporation (NEXT), Tellurian Inc. (TELL), and Camber Energy, Inc. (CEI) which are not well-placed to capitalize on strong demand and surging energy prices.
