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Oil & Gas Revival: The Catalysts Driving Energy Stocks Higher in 2024

Often last year’s loser becomes this year’s winner — and that could certainly be true of the energy sector. After dwindling in 2023, oil and gas producers, pipeline firms and refiners seem to be having a field day in the new year, rising by double digits.

The best part is that those gains could continue going forward.

Driven by rising global demand and reduced supplies, prices for various energy commodities remain in the sweet zone. This should keep cash flows growing at many energy stocks. Meanwhile, other catalysts like M&A as well as new utility demand to power the growth in A.I.-driven data centers will add new growth trends to the market. For investors, after a bit of turbulence, the energy sector looks ready to move forward.

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