Oil Crash 2020: Should You Buy or Sell Big Oil Stocks Right Now?

The 2020 oil market crash is proving to be unprecedented. We've seen oil prices fall to some of the lowest levels on record under the massive collapse in demand as the global economy has been put essentially in neutral, and the storage situation is making things even worse. That's going to push any benefit from an economic recovery even further out. It will take many months to soak up all the oil in storage before producers can ramp production back up.

In the interim, many of the weakest companies are going to run out of money; a large shale producer and major offshore driller have filed for bankruptcy protection already, and more are going to join them.

But there's a group of companies in the oil industry that have the financial strength and diversified operations to ride out even what's proving to be the worst oil crash in history. Collectively known as "Big Oil," integrated supermajors such as ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), BP (NYSE: B), and Royal Dutch Shell (NYSE: RDS.A)(NYSE: RDS.B), along with mega-producers such as ConocoPhillips (NYSE: COP) and other names such as Phillips 66 (NYSE: PSX), a giant in refining, pipelines, and petrochemicals, are viewed as the safest investments in the oil patch. These are the companies that should have the financial wherewithal to outlast any downturn and come out the other side in solid shape.

Source Fool.com