The energy industry shows promise due to the ever-rising global energy demands driven by population growth and energy-intensive applications. Moreover, geopolitical concerns in the Middle East and an expected recovery in global demand for oil and gas, particularly in China, bode well for the industry. These factors and expected interest rate cuts later this year offer investment opportunities in the energy sector.
Amid this backdrop, it could be wise to consider buying fundamentally strong energy stocks: Baker Hughes Company (BKR), Plains All American Pipeline, L.P. (PAA), Euronav NV (EURN), and MRC Global Inc. (MRC). These stocks are all Buy-rated in our proprietary POWR Ratings system.
