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The rapid spread of the highly contagious Delta variant of the coronavirus continues to worry investors about global oil demand. However, oil prices rose to $71 a barrel yesterday on rising Middle East tensions. Moreover, the International Energy Agency estimates a 1.5 million barrel per day shortfall for the second half of this year, indicating a tight market despite the gradual supply increase by the major oil-producing countries.
Amid this backdrop, it would be wise to bet on quality oil and gas stocks Continental Resources, Inc. (CLR), Cimarex Energy Co. (NYSE:XEC), and National Fuel Gas Company (NYSE:NFG) because of their solid financials and impressive growth estimates.
