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Petroleo Brasileiro vs. Lukoil: Which Oil & Gas Stock is a Better Buy?

Stock Markets1 hour ago (Jun 08, 2021 01:30PM ET)

(C) Reuters. Petroleo Brasileiro vs. Lukoil: Which Oil & Gas Stock is a Better Buy?

The international oil market is rebounding quickly from its pandemic lows, driven by multiple factors that include extended supply cuts and recovering emerging markets. We think international oil producers and distributors Petroleo Brasileiro (PBR) and PJSC LUKOIL (LUKOY (OTC:LUKOY)) are examples of companies in the sector that are well-positioned to grow in the near term on industry tailwinds. But which of these stocks is a better buy now? Read more to find out.Petroleo Brasileiro S.A.,-Petrobras (PBR), is a Brazilian oil and gas refinery and transportation company that operates through four segments–exploration and production; refining; transportation and marketing; gas and power; and corporate and other businesses. PJSC LUKOIL (LUKOY) is a Russian oil and gas exploration and distribution company. It operates in approximately 19 countries through two segments: exploration and production; and refining, marketing and distribution.

On June 4, oil prices surged to hit their 2-year high at $72 per barrel as OPEC and OPEC+ countries agreed to keep their supply cuts in place. The global economic recovery, impressive job growth in the United States, and declining COVID-19 cases in India have led to a steady rise in oil prices over the past few days. Goldman Sachs (NYSE:GS) energy research analysts expect oil prices to rise further if a nuclear agreement is reached between the United States and Iran, owing to an anticipated bullish repricing of the commodity. As the international oil markets gain momentum on the back of rapid economic recovery, both PBR and LUKOY are expected to perform well in the coming months.

Brazil’s higher-than-expected GDP growth in the first quarter helped the country to recover its pre-pandemic levels, in turn raising the domestic demand for oil. Russia’s LUKOY, in comparison, is expected to grow substantially due to rising oil prices.

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Petroleo Brasileiro vs. Lukoil: Which Oil & Gas Stock is a Better Buy?

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