Why Camber Energy Shares Are Rising

Shares of small-cap penny stock Camber Energy Inc CEI are trading higher by 3.5% at $0.37. The stock has been trending amid retail investors on social media. Shares of energy and oil companies at large are also trading higher amid a gain in oil after Saudi Arabia suggested OPEC+ could make output cuts to support prices.

Energy names, including Camber Energy, have also seen marked volatility in 2022 amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.

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Camber Energy is active in the oil and gas market. The company is engaged in the acquisition and development of crude oil and natural gas from various known productive geological formations.

According to data from Benzinga Pro, Camber Energy has a 52-week high of $4.85 and a 52-week low of $0.35.