Shares of Santos Ltd (ASX: STO) have shot the lights out so far today!
The stock rocketed as much as 11.6%, compared to a mere 0.7% lift for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). It hit a high of $4.38 this morning, up from the $2.46 low it hit in January this year.
Here's how today's gain looks in chart form:
Santos' impressive gain comes after the Organisation of Petroleum Exporting Countries, or OPEC, agreed to curb production in order to support the resource's price.
A number of other energy producers, including Woodside Petroleum Limited (ASX: WPL), BHP Billiton Limited (ASX: BHP) and Sundance Energy Australia Ltd (ASX: SEA) have also benefited. They're up 5.4%, 4.8% and 17.1%, respectively.
Before jumping into the energy sector, however, remember that higher prices could well attract producers back into the market. That in itself could weigh on the resource's price in the long-run.
