Are These The Best Oil Stocks To Buy In The Stock Market Today?
Like it or not, oil stocks seem to be in fashion in the stock market today. For the most part, this could be due to rising crude oil prices. Naturally, as the price per barrel of the increasingly precious commodity rises, so too would investor interest in oil stocks. Supporting the current price movement in oil would be a recent report by the International Energy Agency (IEA). Yesterday, in its monthly report, the IEA raised its global oil demand growth forecast for 2022 by 210,000 barrels per day (BPD). This would add up to a whopping 99.6 million BPD, exceeding pre-pandemic levels. Accordingly, Brent crude futures rose by 1% throughout Thursday, settling at $84 a barrel, a three-year high.
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