Rising global demand for oil and gas, boosted by the reopening of the Chinese economy and constrained supplies amid geopolitical tensions, could surge oil prices in upcoming months. Given this backdrop, let us look at the energy stock Valero Energy Corporation (VLO), which could be a wise choice for investors due to the reasons explained throughout the article.
Although the overall economy was marred by macroeconomic headwinds last year, the energy sector performed relatively well, with big oil companies reporting the largest-ever annual profits for 2022.
