Despite the growing popularity of renewable energy, the demand for oil and gas is not expected to decline anytime soon. In fact, oil and gas demand is forecasted to grow. Increased drilling activities, anticipation of interest rate cuts, a recovering Chinese economy, and geopolitical tensions are likely to drive the growth of the energy sector this year.
Amid this backdrop, investors could consider buying fundamentally strong energy stocks such as Star Group, L.P. (SGU), Geospace Technologies Corporation (GEOS), and Gulf Island Fabrication, Inc. (GIFI), currently trading under $15. Before diving deeper into the fundamentals of these stocks, let’s discuss what’s shaping the energy industry’s prospects.
