Crude oil prices started off the year red hot. Oil prices rallied from less than $80 a barrel to more than $125 a barrel following Russia's invasion of Ukraine earlier this year. However, crude has cooled off considerably since this summer, steadily falling back into the low $80s on macroeconomic concerns. That more than 20% plunge in crude oil prices means oil is in a bear market. 

However, a new bull market for oil looks to be coming next year. Here's why crude seems set to rebound, which could fuel big gains for oil stocks.

Most oil market analysts believe oil prices are going much higher next year. For example, Jeff Currie, the global head of commodities for venerable investment bank Goldman Sachs, has a $110 forecast for Brent oil (the global benchmark price) in 2023. Rival investment bank Morgan Stanley agrees, expecting Brent to top the $110 a-barrel mark by the middle of next year. While others aren't quite as bullish, the consensus is that oil prices will rebound in 2023. 

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Source Fool.com