Global volatility didn’t spare oil stocks in 2023. Indeed, the sector grappled with unique systemic risks, even as interest rate hikes and economic contraction beat down most stock sectors.
The industry’s woes have compounded further. Generally, ongoing geopolitical concerns and supply constraints remain the key focus for investors. Thus, as the market grapples with the implications of Russian sanctions and reduced exports, OPEC’s political clashes could escalate this situation.
Accordingly, many oil stocks have moved lower in recent weeks. Here are three that are still on sale, amid what appears to be a rebound brewing in this space.
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