Oil well investing demand has been boosted by positive inventory drawdowns. Short-term price models suggest a $85 resistance level could be tested, creating speculative momentum in oil-based equities. Sitting at the top of the list is Energy Transfer LP. According to its website, it’s one of North America’s largest and most diversified midstream energy companies, which is saying something, given the hundreds of midstream companies in the region. Energy Transfer has assets in 44 states in the US, and its operations include transport, storage, and terminaling of crude oil, liquefied natural gas, and more. Biden-Harris Administration Invests $775 Million from Investing in America Agenda for States to Plug Orphaned Oil and Gas Wells Global energy reports show oil well investing capital inflows crossing $1.2 billion in Q1, marking a 9-month high. Analysts cite strong pricing fundamentals and disciplined output controls as core drivers.
