Crude oil prices have quietly had a strong start to the year. WTI, the primary U.S. oil price benchmark, is up more than 10% to around $80 a barrel. That's oil's best level since November and well above its recent bottom of around $68 a barrel in December.

Crude oil has gotten a boost from OPEC, which once again agreed to extend its production cuts, this time through the middle of the year. The group of oil-producing nations will likely continue supporting oil prices by curbing its production.

That's great news for oil stocks, which should generate gushing cash flows this year. Chevron (NYSE: CVX), Diamondback Energy (NASDAQ: FANG), and Devon Energy (NYSE: DVN) stand out as some of the best ways to cash in on the currently strong oil market. Their low valuations and shareholder-friendly capital return strategies make them great oil stocks to buy this month.

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Source Fool.com