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Why Oil and Gas Stocks Sizzled Today
Sept. 14, 2021

Why Oil and Gas Stocks Sizzled Today

OPEC's strong demand forecast comes amid tight oil supply as a significant portion of oil production in the Gulf of Mexico remains offline nearly two weeks after Hurricane Ida. With Tropical Storm Nicholas now heading toward the Texas oil hub, fears of further disruption in oil supply loom large. Given the backdrop, investors in upstream oil stocks such as Vermilion Energy and Centennial Resource Development are unsurprisingly excited. Higher oil prices mean more money for these oil producers, which they can then use to produce more oil to meet higher demand. That also means better prospects for oil-field service companies such as Helix Energy. Last quarter, Helix Energy downgraded its 2021 revenue outlook to $635 million at the midpoint from previous midpoint guidance of $662.5 million, representing roughly 13.5% drop over 2020 revenue.

   Read More About : Natural Gas OPEC Oil and Gas
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