This is being driven by the strong pace of the global economic recovery and producers not keeping up. OPEC+, the Organization of the Petroleum Exporting Countries and allies, have held back from increasing supply even as prices have climbed. Plus, a global shortage of natural gas used to power businesses and homes may spill into the oil market.
So, the demand for oil and gas isn’t going away anytime soon. That’s why investors should consider adding energy stocks to their portfolios. I ran a screen for energy stocks in our database with an overall Buy or Strong Buy rating in our POWR Ratings system. Three of the top stocks on this screen included Royal Dutch Shell PLC (RDS.A), TotalEnergies SE ADR (TTE), and BP PLC ADR (BP), which is why I am highlighting them below.