Oil Profits Are Soaring. Here's How to Cash In on the Industry's Gusher.

Oil profits have skyrocketed this year, fueled by surging oil prices. Most oil producers posted gushing profits in the first quarter, which will probably rise further in the second quarter because of higher prices. That's giving them a growing windfall to return to their shareholders.

Here's a look at why oil profits are so high and how you can cash in on the gusher.

The oil industry has suffered two devastating oil price crashes over the last decade. Crude prices tumbled in 2014 because of an oil price war between Saudi Arabia and Russia and again in 2020, sparked initially by another price war before a knockout blow from the pandemic. Both downturns caused waves of bankruptcies across the industry. It also led investors and lenders to pull capital from the sector, so they didn't get burned again.

Continue reading

Source Fool.com