XLE Eight OPEC+ countries agreed on Thursday to advance their plan for oil output hikes by increasing oil output by 411,000 barrels per day in May, an unexpected decision that prompted oil prices to extend earlier losses.
2025 Q1 sector analysis. XLE is the top performer, XLK the loser by far. Mean reversion trade: fade energy, get long tech QQQ 🔥tradingview.com/x/YajyAgET
Energy has under performed this year. With the tensions on middle east, there is a bullish case for energy this year. It could reach as high as 99 before the end of this year.