While it has been a huge relief to beleaguered and inflation-battered consumers across the United States, oil prices could be set to explode higher. The Organization of the Petroleum Exporting Countries (OPEC) will meet later this week to discuss lowering production by a million barrels per day, perhaps even more.
Despite the big Monday gains, Brent and West Texas Intermediate crude still trade well below the $100 level. That is a far cry from the intraday highs hit earlier this year. What makes sense for investors now is to grab the big dividend energy giants that are on sale, as they all trade well below their 52-week highs hit earlier this year.
We screened our 24/7 Wall St. energy research database looking for large-cap energy leaders that paid substantial and dependable dividends, and that are Buy-rated at top Wall Street firms. Seven companies made the grade.
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