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Anushka Dutta

The No. 1 Momentum Stock to Buy Going Into 2023

UNTC Oil Unit Corporation

Despite oil prices receding from the summer highs, the potential increase in demand and supply constraints could lead to a solid recovery next year. Moreover, underinvestment in new oil supply might lead to structurally higher prices.

Eric Nuttall, the partner and senior portfolio manager at Ninepoint Partners LP, sees oil prices returning to $100 per barrel in 2023, as headwinds such as China’s restrictive COVID policy and coordinated SPR releases are expected to be there no longer.

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