3 Top Oil Stocks for Falling Crude-Oil Inventories
Every week, the world gets an update on the state of the U.S. oil market. While the U.S. is just a part of a global industry, it is an enormous part. That's why, without fail, traders, industry players, and policymakers wait with bated breath for the U.S. Energy Information Administration's Weekly Petroleum Status Report, which gives detailed updates on the supply of oil and its derivative products in the United States.
Last week's report contained a flurry of good news for oil bulls. U.S. crude imports averaged over 7.4 million barrels daily, up by 59,000 barrels daily from the previous week. However, over the past month, imports averaged 7.1 million barrels per day, 9.3% below the same four-week period a year ago. U.S. commercial crude-oil inventories, excluding those in the Strategic Petroleum Reserve, also fell once again, this time by 1.8 million barrels.
Source: Fool.com
EOG Resources Inc. Stock
The stock is an absolute favorite of our community with 35 Buy predictions and no Sell predictions.
With a target price of 140 € there is a positive potential of 20.81% for EOG Resources Inc. compared to the current price of 115.88 €.