2 Top Oil Stocks to Buy Amid Crude Oil's Slump to $70 a Barrel
Chevron(CVX) The Motley Fool·2024-09-27 08:13
Chevron and Devon Energy can still thrive at $70 oil.Oil prices have slumped in recent months. West Texas Intermediate, the primary U.S. oil price benchmark, was recently around $70 a barrel. That's well below its peak of over $85 a barrel a few months ago because of healthy supplies amid demand concerns from a potential slowdown in the global economy. While falling oil prices will affect oil company profits, several producers are well equipped to handle lower prices. Chevron (CVX -1.38%) and Devon Energy ( ...