OPEC+’s expectation of unprecedented oil demand should boost output in the coming months. Also, the benchmark is currently trading above $72 per barrel, near its multi-year highs. We believe that oil-producing companies Cimarex and Camber (CEI), will benefit. What stock do you think is the best buy? Read more to find out.Camber Energy, Inc. (CEI) in Houston, Tex., is an independent oil and company that acquires, develops, and sells , natural gas, and natural gas liquids. In comparison, Cimarex Energy Co. (NYSE:) in Denver, Colo., also operates as an independent oil and gas exploration and production company, primarily in Texas, Oklahoma, and New Mexico.

Despite concerns about the COVID-19 Delta variation, OPEC+ anticipates that global oil demand will continue to rise over the next half-century. OPEC+ projects that the world’s oil consumption will rise by 5.95million barrels per day in 2021. The organization also revised its 2022 oil consumption forecast to 4.2 Million barrels per daily (bpd), up from 3.28 million. On the expectation of an increase in oil consumption as global economic viability returns and vaccine roll-out continues, Brent crude is near its multi-year peak. The anticipated stable demand should allow oil & gas stocks CEI and XEC to generate substantial revenues in the coming quarters.

CEI’s price has increased by 36.3% over the last six months while XEC returned 22.8% during this time. However, XEC’s 107.3% gains year-to-date compare with CEI’s 83% returns. In terms of the past year’s performance, CEI is the clear winner with 232.8% gains versus XEC’s 196%.

Continue reading on StockNews