Energy Roundtable: If I Had to Buy 1 Oil Stock, This Would Be It
Oil prices have been all over the map this year. They cratered following the collapse of Russia's market support agreement with OPEC and the initial impact the COVID-19 outbreak had on demand. However, the world's major oil producers sorted out their differences in a big way, which should help ease some of the supply overhand as the economy starts revving back up now that governments are loosening the restrictions put in place to slow the spread of the virus. Those developments have more investors considering buying oil stocks in hopes of catching a further rebound in crude prices.
While we see those positives, we've also covered the oil market for years, which has tainted our bullishness a bit. We wouldn't blindly buy oil stocks. Instead, we'd narrow our focus on the best-run options. If we each could only choose one of those to buy, it would be ConocoPhillips (NYSE: COP), HollyFrontier (NYSE: HFC), and Phillips 66 (NYSE: PSX). Here's why they're our top choices these days.
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Source Fool.com
