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In this article, we will take a look at the 10 best oil and gas penny stocks to buy. To see more such companies, go directly to 5 Best Oil and Gas Penny Stocks to Buy . Oil price was inching higher on July 12 after fresh data showed that inflation is cooling, calming fears of recession. Analysts are hopeful that the worst might be behind us. This has created hopes that the global economy would not slow down as much as expected earlier. However, oil price has already suffered in 2023 amid fears of an economic slowdown and a lackluster economic activity in China. Brent oil suffered huge losses in the second quarter amid supply glut and economic slowdown fears. Many fear that energy markets will struggle to find a direction this year. According to a Bloomberg report last month, Royal Bank of Canada analysts Michael Tran and Helima Croft said in a note that they fear “market apathy and lack of risk deployment will compound further if the global physical market does not tighten." The analysts believe that “this could end up being a lost year for the oil market as risk remains on the sidelines.” The […]
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