Amid rising economic and geopolitical uncertainties followed by oil production cuts by OPEC+ members and Mexico, oil demand is surging rapidly with limited supply, leading to hiked prices. Brent crude futures surged above $89 per barrel lately and are set to gain nearly 2% this week.
Given the industry tailwinds, it could be wise to invest in fundamentally sound energy stocks Cenovus Energy Inc. (CVE), Weatherford International plc (WFRD), and Gulf Island Fabrication, Inc. (GIFI) for significant growth in May.
