The demand-supply imbalance would push crude oil prices higher, propelling the energy industry’s prospects. Thus, top-performing energy equities ETFs First Trust Natural Gas ETF (FCG), iShares U.S. Oil & Gas Exploration & Production ETF (IEO), and iShares Global Energy ETF (IXC) could be ideal investments for sustainable returns.
World oil demand will rise by 2.44 million barrels per day (bpd) to average 102.1 million bpd in 2023, The Organization of the Petroleum Exporting Countries (OPEC) said in its Monthly Oil Market Report (MOMR). Developing economies, led by China, will account for most of this year’s demand growth. Further, global oil demand is expected to grow by 2.25 million bpd in 2024.
