Oil Prices Seen Strong in 2024 Despite 2023 Recession Fears, Diversified Energy Giants Well-Positioned for Growth
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Crude oil prices declined in 2023 due to recession fears, but are expected to remain strong in 2024 driven by economic growth, slow energy transition, and improved industry efficiency.
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Geopolitical risks could maintain an oil price premium, benefiting diversified, low-cost producers.
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Subsea 7 is a top player in a niche oil and gas market with potential growth from offshore renewables.
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Enbridge has a diverse and resilient portfolio across North America and Europe, expecting continued EBITDA growth.
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Sunoco is the largest U.S. fuel distributor, poised to benefit from recovering gasoline and rising diesel demand.