Despite an increasing global emphasis on sustainable energy practices, robust oil and gas demand indicates a potential rise in the consumption of non-renewable resources. Given this backdrop, quality energy stocks ChampionX Corporation (CHX), Ultrapar Participações S.A. (UGP), and Star Group, L.P. (SGU) could be wise portfolio additions now.
While the transition toward renewable energy solutions intensifies, projections indicate a continuous robust demand for oil and gas globally. According to the International Energy Agency (IEA), by 2024, global oil demand is expected to surge by 930,000 bpd, primarily driven by robust economic growth in India and China's ongoing economic recovery.
