![]() ![]() ![]() (NYSE:MRO) having lost 41.6% and 56.2%, respectively. The stock is down 45% in the year-to-date, with peers Valero Energy Corp. Most refiners have been badly hit by Covid-19 due to weak demand for oil products, and PSX has not been spared, either. #1 Safest Dividends: Phillip 66 Texas-based Phillips 66 (NYSE:PSX) is a downstream/midstream company with stakes in 13 refineries. However, if you belong to the bull camp and believe a big oil rally is in the cards, here are five oil and gas stocks to play the rebound. Oil prices have failed to retrace their pre-crisis levels fully, instead remaining range-bound at $40-$45. Wall Street is growing increasingly bold with its oil price prognostications, with Bank of America recently saying crude prices are on track to hit $60 during the first half of 2021 as the oversupply flips into a deficit. Meanwhile, the prospects of finding a Covid-19 vaccine appear bright, with no less than 170 teams in the race and even vaccines in the final stage of trials. ![]() Optimism is slowly returning to the oil markets thanks to the deep OPEC+ cuts and the latest report that shows producers have mostly been sticking to their pledged cuts. Since then, WTI and Brent prices have staged a nice recovery to trade at five-month highs. It is exactly four months since the historic oil price crash that sent crude prices into negative territory for the first time ever. ![]()
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