OPEC+ oil producers announced output cuts of around 1.16 million barrels a day Sunday, sending oil prices higher . The surprise cut in production could boost oil prices to $100 a barrel and beyond , analysts said. It comes after oil prices dipped last month, falling to $70 per barrel — the lowest in 15 months. "It comes down to demand. If you believe … that demand is going to rebound in the second half of this year, and you believe that sanctions are going to hurt Russian production.
" Still, Citi said any buying back into the sector would likely benefit the largest market-cap names such as ExxonMobil , Chevron and BP . Stock screen For those looking to buy into the sector, CNBC Pro screened for stocks in the SPDR S & P Oil & Gas Exploration & Production ETF as well as the Energy Select SPDR Fund . The resulting stocks have buy ratings from over 40% of analysts covering them, and average price target upside of at least 20%: U.S.
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