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Kritika Sarmah

3 Under-the-Radar Oil Stocks Investors Should Consider

Oil CVE TTE AE ADNOC Kritika SarmahHer Adams Resources & Energy, Inc. British Petroleum Cenovus Energy Inc Inflation

Oil prices rebounded from early session losses on Wednesday, supported by the lower-than-expected inflation data. Brent crude futures rose 1.1% to settle at $97.40 a barrel, while U.S. West Texas Intermediate crude futures gained $1.43 to $91.93.

Also, the International Energy Agency (IEA) revised its 2022 estimates for global demand growth by 380 kb/d to 2.10 mb/d. The IEA cited rising oil use for power generation for the upward revision. World oil demand is forecasted to be 99.70 mb/d in 2022 and 101.80 mb/d in 2023.

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