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Business
Nidhi Agarwal

Are These 3 Energy Stocks Worth Buying This Week?

TTE PVL NRT Oil TotalEnergies SE Petronas Europe OPEC

Following the OPEC+ decision to extend crude oil production cuts through 2024, crude oil prices are expected to increase. Therefore, quality energy stocks, TotalEnergies SE (TTE), North European Oil Royalty Trust (NRT), and Permianville Royalty Trust (PVL) might be ideal investments now.

At the OPEC+ meeting, Saudi Arabia said it would voluntarily cut its oil production by another 1 million barrels daily next month to prop up global oil prices. At the same time, the meeting unsurprisingly agreed to extend current production cuts of 3.66 million bpd until the end of this year and reduce combined production by another 1.4 million bpd from the start of 2024.

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