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Investors’ interest in oil energy stocks is evident in SPDR S&P Oil & Gas Exploration & Production ETF’s (XOP) 15.5% gains over the past month compared to the SPDR S&P 500 ETF Trust’s (SPY) 0.6% returns. According to ResearchAndMarkets, the global oil and gas pipeline market is expected to grow at a CAGR of more than 6% between 2021 – 2026.
Given this backdrop, we think it could be wise to bet on shares of oil energy companies Continental Resources, Inc. (CLR), Bonanza Creek Energy, Inc. (BCEI), Vista Oil & Gas, S.A.B. de C.V. (VIST), and SandRidge Energy, Inc. (SD). They are expected to continue benefiting from rising oil prices.
