Power Lunch

Monday - Friday, 2:00 - 3:00 PM ET
Power Lunch

Power Play: Buy energy on dips

Dan Bannister | Getty Images

The energy sector is still down year-to-date, but has rallied nearly 13 percent since October and the rally may not be over.

J.P. Morgan Funds Global Market Strategist Anastasia Amoroso tells CNBC's "Power Lunch" on Monday the outlook for oil is positive.

Read More We're still 'investing a lot' in oil: Statoil CFO

"The next few months could prove to be eventful for energy companies as OPEC countries are set to meet and Iran sanction are set to be lifted. Although both of these events could cause a temporarily drop in oil prices (if OPEC doesn't move and if Iran comes online), the longer-term price support for oil and oil producers comes from cutbacks in U.S. rig count and production which are ongoing," Amoroso said.

She recommends buying energy on dips.

The energy sector is up more than one percent during trading, while WTI and Brent crude are lower.