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According to JPMorgan Chase & Co. (NYSE:JPM) analysts, Brent prices can reach $120 per barrel in 2022 and $150 per barrel in 2023, with the OPEC+ cartel keeping a tight supply. Moreover, the recent drop in oil prices is tied to concerns over the omicron coronavirus variant and is expected to be short-lived.
Therefore, it could be wise to buy the dip in the fundamentally strong oil and gas stocks China Petroleum & Chemical Corporation (SNP), APA Corporation (APA), SilverBow Resources, Inc. (NYSE:SBOW), and VAALCO Energy, Inc. (EGY).
