Extended production cuts by major crude exporters and high global oil demand will likely push oil and gas prices higher in the upcoming months, providing solid tailwinds for the energy industry.
Given the industry’s bright prospects, it could be wise to invest in energy ETFs Energy Select Sector SPDR ETF (XLE) and iShares U.S. Energy ETF (IYE) for portfolio diversification and potential gains. These ETFs provide exposure to a wide range of major energy companies positioned for significant growth.
