DVN - 3 Oil Stocks to Buy Hand Over Fist in March
2024-03-05 06:25:00 ET
Crude oil prices have quietly had a strong start to the year. WTI, the primary U.S. oil price benchmark, is up more than 10% to around $80 a barrel. That's oil's best level since November and well above its recent bottom of around $68 a barrel in December.
Crude oil has gotten a boost from OPEC , which once again agreed to extend its production cuts, this time through the middle of the year. The group of oil-producing nations will likely continue supporting oil prices by curbing its production.
That's great news for oil stocks , which should generate gushing cash flows this year. Chevron (NYSE: CVX) , Diamondback Energy (NASDAQ: FANG) , and Devon Energy (NYSE: DVN) stand out as some of the best ways to cash in on the currently strong oil market. Their low valuations and shareholder-friendly capital return strategies make them great oil stocks to buy this month.
For further details see:
3 Oil Stocks to Buy Hand Over Fist in March