4 Stocks to Buy on Goldman Sachs’ Prediction That Oil Could Hit $100 -Breaking
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© Reuters 4 Stocks to Buy on Goldman Sachs’ Prediction That Oil Could Hit $100A gradual economic recovery in the world and the expected moderate COVID-19-omicron variant effects could lead to an increase in oil demand by 2022. According to Goldman Sachs’ (GS), oil prices could hit $100. In this context, it might be a smart move to acquire shares of oil-related stocks Suncor Energy and Occidental Petroleum. Marathon Oil (MRO) and APA Corporation. Let’s discuss.The major stock market indexes climbed for the second day in succession yesterday after President Biden reassured the nation that his government has no plans to return to March 2020 style pandemic-driven lockdowns. Investor bank Goldman Sachs Group Inc. (NYSE 🙂 expects oil demand to reach new heights in 2022 as well as 2023. GS’ head of energy research, Damien Courvalin, believes that oil prices can soar to $100 per barrel.
Prices have reached $80 per barrel because of the increasing demand for oil. Although the omicron strain has been problematic, international travel will continue to increase as many countries have increased their vaccination rates. According to Art Hogan, chief market strategist at National Securities, “The omicron’s potential damage to economic activity will be reasonably short and shallow.”
This backdrop suggests that it might be sensible to invest in quality oil-related stocks Suncor Energy Inc. (SU), Occidental Petroleum Corporation, Marathon Oil Corporation (NYSE) and APA Corporation.
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