OPEC Sticks to Its Plan, Which Is Excellent News for These Oil Stocks
Earlier this week, OPEC ended months of speculation about the future of its oil market stabilization plan. The current agreement where OPEC and a 10-nation non-member coalition led by Russia are holding back 1.8 million barrels of crude per day was set to expire next March. However, the participants agreed to extend that deal through the end of next year in hopes that it will continue draining off the market's excess supply and prop up oil prices.
That agreement is great news for shale drillers in the U.S. because it suggests oil prices have much more upside than downside. Because of that, low-cost drillers like EOG Resources (NYSE: EOG), Encana (NYSE: ECA), and Marathon Oil (NYSE: MRO) should thrive in the year ahead.
Image source: Getty Images.
Source: Fool.com
EOG Resources Inc. Aktie
Rein positive Einschätzungen für EOG Resources Inc., nur Buy-Einschätzungen, keine Sell-Einschätzungen.
Ein prognostiziertes Kursziel von 142 € für EOG Resources Inc. zeigt ein Potenzial von über 20% im Vergleich zum aktuellen Kurs von 110.86 €.
