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Kritika Sarmah

No.1 Stock to Buy in This A-Rated Industry

United States Oil Kritika SarmahHer OPEC NCIB

Further production cuts by OPEC+ and a decline in U.S. oil reserves should help the energy sector thrive in the near future. Therefore, I think it is an ideal time to invest in quality energy stock Parex Resources Inc. (PARXF), and I have discussed the reasons throughout this article.

OPEC+ and Saudi Arabian announced on April 2, 2023, a surprise decision to further cut oil output by approximately 1.16 million barrels per day. According to Reuters calculations, this brings the total volume of cuts by OPEC+ to 3.66 million barrels per day, equivalent to 3.7% of global demand.

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