Although OPEC+ has announced plans to increase production by 411,000 barrels per day starting this month, actual increases may be smaller due to overproduction by some members, such as Kazakhstan and Iraq. Paradoxically, oil prices rose after this announcement, possibly because the increase was less than expected, or due to market sentiment expecting a tighter supply. Add in the fact that the Israeli airstrike on Iran’s nuclear facility led to a 6% jump in Brent crude prices to a five-month high. Such events raise concerns about potential supply disruptions in the Middle East, a critical oil-producing region.
For investors, the timing could be perfect for grabbing some of the high-yield dividend giants that have treaded water this year while AI-related tech stocks have soared higher. We screened our 24/7 Wall St. energy research database and found four companies offering big and dependable dividends and the potential for some serious upside. All are rated Buy at top Wall Street firms.
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