Fisher: Not the Time to Bet on Energy Stocks

China's reopening has driven an increase in domestic demand for oil, natural gas, and coal, while OPEC+is also continuously reducing crude oil supply. Photo: VCG

Are Chinese energy stocks set for an encore? With reopening driving up oil, gas and coal demand while OPEC+ cuts crude supply, many say energy’s 2022 strength — a bright spot in a year to forget — was a prelude to more in 2023. But don’t let energy stocks’ red-hot run obscure broader global realities: Booming oil and gas production and conservation efforts have proven shortage fears overwrought. Overhyped OPEC+ cuts won’t change that. Chinese energy’s early year jump is a trap — look to other sectors for better opportunities.

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: Ken Fisher

Ken Fisher is the founder and executive chairman of Fisher Investments, a money management firm serving large institutions and high net worth individuals globally.