Environment

Goldman Sachs says buy oil-stock pullbacks, highlighting a Club name to purchase

A work-over rig performs maintenance on an oil well in the Permian Basin oil production area near Wink, Texas August 22, 2018.
Nick Oxford | Reuters

Goldman Sachs said in a research note Thursday the recent energy sector pullback should be viewed as a reason to buy since that strategy has worked well since late 2020. Thinking along those lines, we did add to one of our three oil exploration and production (E&P) stocks twice this month. However, we’re currently debating whether we need that much exposure to an industry so tied to the economy.

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