In mid-2022, I published a bullish outlook on the oil and gas producer Diamondback Energy (NASDAQ:FANG) in "Diamondback Energy: Oil Producers To Benefit From Substantial Decline In Crude Reserve." At that time, I believed that crude oil prices would inevitably rebound due to the significant decline in total US storage levels and tepid production growth. Combined with rising exports to Europe, offsetting Russia, it seems likely that oil prices would not remain as low as they were then. Since that article was published, FANG has risen by around 73%, delivering a solid total return of about 80%.