
Consistent withdrawals from global oil inventories owing to OPEC+ production cuts, increasing geopolitical risks, and supply disruptions are likely to push the oil prices higher in 2024, and the rally will continue through 2025. This presents a prosperous opportunity for investors seeking to invest in the energy market.
Against this backdrop, investors could consider investing in solid small-cap energy stocks such as Precision Drilling Corporation (PDS), VAALCO Energy, Inc. (EGY), and Obsidian Energy Ltd. (OBE) with major upside potential.