Is Now the Time to Buy Oil Stocks?
There are different tiers in the oil industry that investors need to pay close attention to. That's more true today than it has been in many years. If you are looking at oil stocks right now as the price of this energy commodity has soared, make sure you are getting into the right area of the market for your long-term needs. To help you figure out whether it's the right time to buy oil stocks, it'll help to examine Centennial Resource Development (NASDAQ: CDEV), ConocoPhillips (NYSE: COP), and Chevron (NYSE: CVX).
Oil, as noted, is a commodity. That means that, for the most part, a barrel produced by one company is largely interchangeable with one produced by another. Thus, the price is determined by supply and demand, with the balance here fluctuating over time. The last couple of years is a telling example.
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Source Fool.com
