Oil prices have bounced between $70 and $80 a barrel this year. However, crude appears poised to break out later this year. That makes now look like a great time to buy oil stocks.

While there are many top oil stocks, I've zeroed in on  (NYSE: CVX) as the one I want to buy this month. Here's why I believe oil prices appear poised to rally and why Chevron is my oil stock of choice to profit from that thesis.

Changes in supply and demand drive oil prices. Last year, crude prices skyrocketed following Russia's invasion of Ukraine on supply issues. They've since cooled off on concerns that higher interest rates will slow the global economy, impacting demand.

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Source Fool.com