A slew of earnings tests loom for the energy sector. Next week, more than 55% of the components in XLE’s underlying index report fourth-quarter results. Energy stocks could be supported by decreased supply in the global oil markets.
OPEC issued a list of oil production cuts by its members and other major producers for the next six months starting January 1 to bolster confidence in the global crude oil markets as the cartel and its allies move to cut supply to combat the global glut, Reuters reports.
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