PSX - 3 Oil Stocks to Buy for 2022 and Beyond
Oil stocks have had a great run in 2022. Crude prices surged following Russia's invasion of Ukraine, enabling oil companies to feast on higher prices. While oil has cooled off considerably from its peak on concerns that demand could decline in 2023 if the global economy slows, most economists expect crude prices to remain elevated. Meanwhile, demand should stay healthy for years, even as the global economy switches fuel sources.
That all bodes well for oil stocks in the coming years. Three great ones to buy for this year and beyond are Chevron (NYSE: CVX) , Enbridge (NYSE: ENB) , and Phillips 66 (NYSE: PSX) . Here's why they stand out as some of the top options in the oil patch.
Chevron is having a record year. The oil giant set all-time quarterly highs for profit and operating cash flow this year. That gave the company the funds to deliver on its four financial priorities.
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3 Oil Stocks to Buy for 2022 and Beyond