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Oil Price Resilience Fuels Another Big Energy Stock Rally This Week (ETE, AMID, JPEP, CCLP, XCO)

Oil surged 8% this week despite the fact that the producers' meeting between OPEC and Russia did not lead to an expected agreement to freeze production. Crude was unfazed by that outcome, instead ending the week at nearly $45 a barrel, which is a 2016 high. Instead of focusing on the disappointing Doha meeting, oil traders see that production declines in the U.S. are starting to take hold and will lead to a rebalancing of the oil market later this year.

The oil price rally helped provide a big lift to energy stocks this week. According to S&P Global Market Intelligence data, among the best-performing energy stocks during this week were Energy Transfer Equity (NYSE: ETE), American Midstream Partners (NYSE: AMID), JP Energy Partners (NYSE: JPEP), CSI Compressco (NASDAQ: CCLP), and EXCO Resources (NYSE: XCO).

http://www.fool.com/investing/general/2016/04/23/oil-price-resilience-fuels-another-big-energy-stoc.aspx?source=yahoo-2&utm_campaign=article&utm_medium=feed&utm_source=yahoo-2