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    Top stocks to buy: Favourable industry trends to support oil and gas stocks

    Synopsis

    Upstream oil players and gas firms can cushion against rising volatility fuelled by stretched valuations.

    Oil prices have remained volatile in 2023-24 amid geopolitical tensions and production cuts by OPEC+. After a 22% decline from September to December, Brent Crude surged by 10.9% in the first quarter of 2024. Factors such as supply tightness, lower US oil inventories, Red Sea shipping attacks, Ukrainian drone strikes on Russian refineries, and rising demand propelled this increase.The extension of OPEC+ production cuts is anticipated to bolster
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    The Economic Times