Imperial Petroleum Inc (IMPP)

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7 Hot Penny Stocks To Buy For Under $1 Before Next Week

https://pennystocks.com/featured/2022/10/07/7-hot-penny-stocks-to-buy-for-under-1-before-next-week/

Imperial Petroleum Inc. (NASDAQ: IMPP)



Energy penny stocks have been red hot following this week’s OPEC decision. The decision was made for OPEC+ nations to cut their oil production by 2 million barrels per day, which helped spark bullish price movement in oil prices and energy penny stocks. In our article, 5 Top Energy Penny Stocks To Watch After OPEC Production Cut News, we also talked about some other energy industry events that prompted moves in related stocks.

The U.S. President directed the Energy Secretary to explore additional responsible action to boost domestic production. In the meantime, strategic petroleum reserves will be released appropriately.


Organizations, including the Environmental Protection Agency and even the U.S. Treasury, are weighing in on domestic energy initiatives. The EPA is expected to propose biofuel blending mandates post-2022 to the White House by the end of next week. The Treasury, in the meantime, has said it will move quickly to write rules to offer clarity on new clean energy tax incentives.

Imperial Petroleum is one of the cheapest energy penny stocks to watch and has reacted strongly to this week’s events. The company owns ships providing petroleum products and crude oil transportation services. A total of 8 tanker vessels are under its flag, equating to a total capacity of roughly 673,000 deadweight tons.

With attention to oil and gas stocks, companies transporting raw materials have also gained sympathy momentum. For IMPP stock, it will likely be more important to monitor industry updates as the current move is based on such sympathy sentiment.