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Practical Advice from

3 Oil Stocks to Load Up On Now

Tim Evanson via Flickr

It’s no secret that the various crude oil stocks have had a hard time over the last couple of years. Lower for longer crude oil prices have clipped much of the enthusiasm — and profits — for the entire energy sector. However, things could be better for the various crude oil stocks in the New Year.

Already, prices for crude have begun to rise on the back of various production cuts. Supplies of oil have drifted lower in recent weeks. Those supply cuts got a shot in the arm recently when OPEC finally realized that they needed to hold off on production as well. That deal to cut output alone sent prices for crude oil up a quick 8%.

At the same time, bullish economic growth forecasts thanks to Donald Trump’s win as president and rising growth in places like India are helping on the demand side of the equation. Analysts continue to ratchet-up just how much energy we are going to use next year.

In the end, the World Bank now estimates that crude oil prices will average around $55 per barrel for the year.

The combination of these various factors paints a very bullish picture for the various crude oil stocks during 2017. With that in mind, the time to go long on energy stocks could be now. Here are three crude oil stocks to load-up on during the New Year.

This slide show is from InvestorPlace, not the Kiplinger editorial staff.

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