The Energy Sector is enjoying a big comeback from its dismal 2020 performance. Energy Stock Trackers say there's definitely an upside to higher oil prices. It's now the best performing sector on the exchange! Up 40% and having it's best quarter on record. Oil Industry expert Kim Balado gives some background to the good news. "We're coming back from Covid, consumer confidence is up. Oil operators are showing good discipline like ExxonMobile and Diamond Back Energy which is sparking a good rally."
Balado further explains why she thinks stock prices will continue to rise. "With OPEC agreeing to price-cut more than likely and Americans returning to travel are all make good factors for the oil and gas specter to increase." JP Morgan named ExxonMobile and Chevron its top pick in oil, but other investors are exercising caution in the near future.
You can hear Kim Balado host Inside the Oil Patch Sunday nights on KTRH.