The recently released 2013 global oil outlook from OPEC might just be manna from heaven for oil and gas investors, as increased worldwide demand is on the docket for oil and presumably higher share prices for energy stocks.

The Organization of the Petroleum Exporting Countries, in its monthly report about global oil markets, forecasts that demand should rise by 900,000 barrels daily this year and by 800,000 per day in 2013.

Most industry onlookers took the report as bullish news for oil stocks, and note that share prices should start rising just about immediately.

“It's been an impressive performance,” offers John Kingston, Platts director of news. “And when you put this month's number up against OPEC’s own prediction that it is going to need to produce about 30.5 million b/d in the fourth quarter, which is always the heaviest demand period of the year, it should ease fears of tight crude supplies.”

Why is OPEC so optimistic about oil demand now and down the road? It could be improving news about the global economy.

Unity College (Maine) associate professor of sustainability Mick Womersley ties the bullish forecast to stronger global growth.

“OPEC is bullish because global GDP is increasing,” he says. “Oil demand historically increases by approximately two-thirds of GDP as a percentage. In other words, a GDP increase of 3% pushed up demand 2%, although there are signs that there is some increasing disconnection between these two variables.”

OPEC cites 3% global economic growth during the next year.

“In addition, oil prices will increase, too, thanks to the stronger supply and demand issue,” he adds.

So the $64,000 question is this: With global demand for oil on the way up, which stocks benefit most?

It could mean an across-the-board run-up in oil and gas stocks, Womersley says.

“If OPEC is right, oil and gas stocks that will benefit most are those that embody capital capable of delivering increased oil and gas demand (and thus profits),” he says. “So, look at the oil and gas firms that specialize in exploration and drilling.”

There is, as usual, a caveat on oil prices.

“If prices remain high, so will demand for substitutes such as energy efficiency measures, eco-boost and hybrid cars, home insulation, coal and wood pellets.”

Another potential winner in the oil market are companies in the midstream sector.

According to Andrew Fletcher, principal at Fletcher Wealth Management, an investment advisory firm in Johnson City, Tenn., increased demand leads to increased need for midstream services.

“Major oil companies have been divesting their midstream assets to focus on their core businesses, creating growth opportunities for companies like Buckeye Partners, LLP,” he says.

“BPL’s recent acquisitions have added terminals and storage capacity for crude oil and other refined products to its asset list. Based on the locations of these assets, and the terminals already being operational as opposed to needing to be built, we see them being accretive in the event of increased demand.”

The company’s cash flow advantage should position the stock for growth, he adds.

“BPL has several advantages to finding cash to fuel its growth,” says Fletcher. “First, there are stable cash flows from its pipeline business, which in some areas have regulated annual rate increases, providing an inflation hedge. Second, BLP is a master limited partnership that passes income and expenses through to its limited partners. This essentially negates taxation at the corporate level, freeing up cash for operations and additional acquisitions. And incentive distribution payouts were removed when BPL merged with its general partner in 2010, decreasing the cost of equity.”

Fletcher says that distributions are currently yielding 8.23% ($1.038/quarterly per unit). The stock has traded as high as $68.45, and as low as $44.55, during the last 12 months.

Other options might be GMX Resources and Hyperdynamics Corp., two favorites of New York City-based Five Star Equities.

According to research data from the firm, GMX Resources is an E&P company with development acreage in two oil resource plays -- the Williston Basin in North Dakota/Montana and the DJ Basin in Wyoming, targeting the Bakken/Sanish-Three Forks and Niobrara formations, respectively. “In the second quarter of 2012, the company achieved an average oil production of 705 barrels/day,” says Five Star.

Five Star also likes Hyperdynamics, an emerging independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa. “The company holds one of the largest offshore exploration acreage positions (originally 31,000 square miles) in West Africa,” the research report notes.

Tyler Kocon, a portfolio manager for the Bakken & U.S. Energy Shale at Split Rock Private Trading, says that investors may want to watch out for a few takeover targets in the oil and gas market. A few of his favorite picks include Whiting Petroleum, Kodiak Oil & Gas and Oasis Petroleum.

“These companies have excellent Bakken acreage and are favorably valued for a larger major to take over at a reasonable price based on current reserves and production statistics,” he told Oil and Gas Investor. “In addition, these companies have almost all of their production coming from the relatively stable onshore environment of the United States as opposed to the potentially more politically complicated and unstable areas of Africa or the Middle East.”

All in all, the OPEC outlook seems to be stirring up stronger interest in oil and gas stocks. Investors would do well to get out there and kick some tires, especially the selections listed above.