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The price of crude oil and natural gas has been subdued in recent months. Investors are worried about a recession and lack of demand in emerging economies like China. However, the market is still undersupplied, and energy prices could rebound sharply in 2023. Thatâs why investors should consider buying oil stocks on this recent dip. Oil stock #1 MEG Energy ( TSX:MEG ) has benefited from operational efficiency despite the turmoil in the energy sector . While the broader stock market is down by about 5%, MEG stock is up 58% year to date. The stock could rise after a recent pullback if oil prices rebound next year. MEG Energyâs edge stems from the Christina Lake project, a high-quality and low-decline reserve project. From the project, the company has posted positive results in 2022, benefiting from high oil prices. In the third quarter, the company had a record bitumen production of 101,983 barrels per day. Adjusted funds flow more than doubled to $496 million, as revenues totaled $1.57 billion, up from $1.1 billion as of the same quarter last year. Free cash flow in the quarter nearly tripled to $418 million from $159 million in the same quarter last […]
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