The energy sector expects growth in 2024, driven by restricted oil supply, geopolitical tensions, and rising investments in international production, favoring energy equipment and services companies. Thus, investors could consider investing in top energy stocks CVR Energy, Inc. (CVI), North American Construction Group Ltd. (NOA), and Adams Resources & Energy, Inc. (AE).
While oil prices have been going down lately, geopolitical uncertainties, including tensions in the Middle East and a Ukrainian drone strike on Novatek's export terminal, have limited losses and contributed to a 2% rise in crude prices last Monday. Geopolitical pressures are preventing a market bottom-out, according to experts, as demonstrated by ongoing uncertainties in various regions.
