The U.S. Energy Information Administration (EIA) just gave energy investors a vote of confidence for the coming years. In its short-term energy outlook published on Feb. 6, the EIA said, "Although we expect crude oil prices will rise into the mid-$80/barrel range in the coming months, we expect downward price pressures will emerge in 2Q24 as global oil inventories generally increase through the rest of our forecast." But the EIA doesn't expect prices to fall by that much.

Its full-year Brent crude oil forecast is $82.42 per barrel in 2024 and $79.48 in 2025. If that forecast is even close to correct, a lot of U.S. exploration and production companies are going to do very, very well. Majors like Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) are two straightforward choices.

For investors looking for even higher yields, Brookfield Renewable (NYSE: BEPC) (NYSE: BEP) and household appliance company Whirpool (NYSE: WHR) are worth a look.

Continue reading

Source Fool.com