3 Top Oil Stocks to Buy Right Now
Oil stocks are surely caught in one of the worst times ever. The coronavirus pandemic has led many countries to impose travel restrictions, lock-downs, or other measures that have significantly reduced the demand for oil and refined products. On the supply side, while OPEC and other countries have agreed on production cuts, those may not be enough considering the extent of demand destruction. This got reflected in the muted response of oil prices following the agreement. However, it's still a significant development that should help support oil prices over time when demand begins to rise again.
Still, the energy sector is facing significant headwinds. Energy stock prices will likely remain volatile in the short term. But there are attractive opportunities for those looking to invest for the long term and can stomach short-term volatility. Three energy stocks that should do well in the long-term are TC Energy (NYSE: TRP), Enterprise Products Partners (NYSE: EPD), and Phillips 66 (NYSE: PSX).
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Source Fool.com
