Two strategists tell CNBC's "Power Lunch" on Monday it's time to get back into energy.
"Forecasts of increased global production (primarily U.S.) and declining global demand (Russia, Europe, Asia) are somewhat overstated. Prices between $60 and $70 are statistically consistent with the levels of global demand/consumption and global production," said Hugh Johnson, chairman of Hugh Johnson Advisors.
For long-term investors, Jerry Castellini, president and chief investment officer at CastleArk Management recommends EOG Resources. Castellini believes it is important to own companies with exposure to shale oil producers.
Halliburton and Baker Hughes are trading higher on Monday, while National Oilwell Varco and EOG Resources are lower.