3 Top Oil Stocks to Buy to Cash In as Crude Tops $90 a Barrel
After a brief dip back into the mid-$70s on macroeconomic concerns, crude oil has roared back in recent weeks. It rebounded above $90 a barrel after OPEC agreed to slash its output to push prices higher. Crude oil could have further to run if demand strengthens or the sector encounters an unexpected supply issue.
Several oil companies enable investors to immediately cash in on higher oil prices because of their unique capital return strategies. Three of the top oil stocks to buy to cash in on the prospect of higher crude oil prices are ConocoPhillips (NYSE: COP), EOG Resources (NYSE: EOG), and Pioneer Natural Resources (NYSE: PXD).
ConocoPhillips launched a unique three-tiered capital return program this year, allowing it to send additional money back to shareholders depending on oil prices. It initially set a target to return $7 billion across the following tiers:
Source Fool.com
