Start Selling HUSA, IMPP, INDO, NINE, XOM, CVI, GBR Stocks Amid Biden’s Possible Visit to Middle East To Increase Oil Production

Oil stocks had two weeks of soaring demand for their shares as the crude oil price has been bullish recently. OPEC+ could come up with a decision to control the oil price expensive after Obama put pressure on its price to the historical low due to the Russian annexation of Crimea.

Right now the same aggressive strategy is being discussed in the Biden administration to remove Russian oil and gas from European markets. We all know that Europe is much dependent on energy resources as they are available in limited natural reserves. A possible visit of Joe Biden to Saudi Arabia and Persian Gulf countries may happen soon to control the rocketing price of natural gas and crude oil.

  • Crown prince Mohamed Bin Salman has to breach the OPEC+ agreement
  • Katar, Bahrein, UAE, Kuwait are most probably ready to increase the oil production although they might lose potential revenue
  • Iran and Venezuela may also join in oil exports if the U.S lift energy sanctions
  • Recently skyrocketing oil stocks are endangered to decline
  • Selling or shorting the most active stocks like HUSA, IMPP, INDO, NINE, XOM, CVI, GBR may bring significant returns
  • EV and renewable energy stocks might take a bullish trend again this spring
  • Bearish RIVN, LCID, NIO, XPEV, LI, FSR, WKHS, NKLA, RIDE, HYLN, MULN, FUV shares may face a turning point next month as the oil price usually plunges slowly