Despite global climate action, coal, oil, and gas continue to dominate as global energy demand rises. Geopolitical tensions in Ukraine, Gaza, and U.S.-China relations have heightened the focus on energy security. Hence, this presents an opportunity to consider undervalued energy stocks: Schlumberger Limited (SLB), VAALCO Energy, Inc. (EGY), and Obsidian Energy Ltd. (OBE), offering significant upside potential.
The gradual shift from fossil fuels keeps oil and gas pivotal to the global economy. Expected to grow at a 4.9% CAGR, the market could reach $9.89 trillion by 2029, driven by resource exploration and government support. Moreover, key trends include emission reduction, digital technologies, reservoir modeling, increased drilling investments, and industry alliances for advanced solutions.
