Despite the lingering market concerns over economic and oil demand growth, particularly in China, crude oil prices are projected to hike steadily through 2024. Also, the ongoing withdrawals from oil inventories predict a positive oil and gas market outlook.
Given the industry tailwinds, it could be wise to invest in fundamentally sound undervalued energy stocks Energy Transfer LP (ET), Plains All American Pipeline, L.P. (PAA), and Delek Logistics Partners, LP (DKL) for potential gains.
