USO - 5 Oil Stocks I Wouldn't Touch With a 10-Foot Pole
The oil market has gone through some insane volatility this year. Prices nosedived from more than $60 a barrel to negative territory. Crude oil has since bounced back from that unbelievable low point as speculators bet that demand will pick back up as the COVID-19 lockdowns abate.
However, with oil prices in the U.S. still below $20 a barrel, and major storage issues ahead, oil stocks face a long road to recovery. Several have already gone under, while many more will likely join them in the coming months. With the risk of a bankruptcy wave, investors need to tread carefully in this sector. Here are five oil stocks I'd avoid at all costs.
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