ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), Occidental Petroleum (NYSE: OXY), and Devon Energy (NYSE: DVN) are all benefiting from rising oil prices. This video will answer which one of these energy stocks is the best one to buy now.
It seems like ages ago that a pandemic and massive supply glut forced oil prices to temporarily fall below zero, meaning that sellers were paying buyers to take their oil. It decimated stocks like oil major ExxonMobil (NYSE: XOM), which fell as much as 70% from its high. The lessons learned from this scenario can prepare investors for the next potential downturn in a historically cyclical industry.
ExxonMobil (XOM) is considering selling its ownership interest in LNG Offshore Terminal Italy while gauging market interest. However, no decision has been made regarding a potential sale.