ASX 200 energy sector leads the market ahead of OPEC+ meeting

ASX 200 energy shares outperformed the 10 other market sectors last week, rising 1.5%.

Meantime, the S&P/ASX 200 Index (ASX: XJO) lost 0.35% over the short trading week to close at 8,727.8 points.

Just four of the 11 market sectors finished the week in the green.

Let's review.

Energy shares led the ASX sectors last week

Brent crude oil futures rose by 0.66% to US$61.25 per barrel on Friday, the first day of trading for the new year.

The Brent oil price experienced its biggest annual fall in five years last year due to ongoing geopolitical uncertainty.

On Friday, Trading Economics analysts said:

Geopolitical developments remained a backdrop, as Washington stepped up pressure on Venezuela's energy sector by targeting China and Hong Kong based firms and vessels allegedly involved in bypassing export restrictions.

Separately, tensions between Russia and Ukraine flared over the New Year period, with reciprocal strikes hitting Black Sea port facilities and damaging key energy infrastructure.

Meanwhile, OPEC+ will meet today (Australian time) to decide whether to maintain its November agreement to pause output increases.

Let's take a look at how some of the ASX 200 energy shares performed last week.

The Woodside Energy Group Ltd (ASX: WDS) share price rose 2.24% to close the week at $23.66.

The Santos Ltd (ASX: STO) share price lifted 1.15% to $6.15.

The Beach Energy Ltd (ASX: BPT) share price ascended 1.29% to $1.17.

Ampol Ltd (ASX: ALD) shares fell 0.14% to $32.12 apiece.

The Viva Energy Group Ltd (ASX: VEA) share price eased 0.24% to $2.09 on Friday.

The Karoon Energy Ltd (ASX: KAR) share price finished the week steady at $1.56.

ASX 200 uranium share Paladin Energy Ltd (ASX: PDN) jumped 4.09% to close the week at $10.13.

The Deep Yellow Ltd (ASX: DYL) share price lifted 3.99% to $1.95.

ASX 200 coal share Yancoal Australia Ltd (ASX: YAL) rose 0.81% to $5.01.

Whitehaven Coal Ltd (ASX: WHC) shares fell 0.89% to $7.81 apiece.

The New Hope Corporation Ltd (ASX: NHC) share price rose 0.25% to $4.05.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the four trading days of last week:

S&P/ASX 200 market sector	Change last week
Energy (ASX: XEJ)	1.5%
Communication (ASX: XTJ)	0.22%
Financials (ASX: XFJ)	0.17%
Consumer Staples (ASX: XSJ)	0.02%
Consumer Discretionary (ASX: XDJ)	(0.24%)
Industrials (ASX: XNJ)	(0.32%)
Utilities (ASX: XUJ)	(0.48%)
Healthcare (ASX: XHJ)	(0.65%)
Materials (ASX: XMJ)	(0.94%)
Information Technology (ASX: XIJ)	(1.3%)
A-REIT (ASX: XPJ)	(1.87%)

The post ASX 200 energy sector leads the market ahead of OPEC+ meeting appeared first on The Motley Fool Australia.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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