Geopolitical factors, including unrest in Libya and production cuts from Iraq and Russia, are tightening oil supply, potentially increasing prices and profit margins for oil companies. Although the industry is shifting toward cleaner fuels, oil remains a vital energy source, and varying forecasts on this transition create near-term investment opportunities.
Amid this backdrop, it could be wise to consider buying strong oil and gas stocks such as APA Corporation (APA), Adams Resources & Energy, Inc. (AE), and VAALCO Energy, Inc. (EGY), which remain undervalued in 2024.
