The last two years have been very tough on the oil industry, as low oil prices have weighed on profit and stifled growth. With improving industry fundamentals and increasing consumption, now might be a good time to invest in oil stocks. The oil industry has been nothing short of a roller coaster ride. The U.S shale oil boom added roughly 6 million barrels per day during the 2008-2015 period and the market entered into a surplus state. That led to oil prices declining due to worldwide oversupply. However, members of the Organization of Petroleum Exporting Countries (OPEC) agreed to reduce their combined output by 1.2 million barrels per day during the final quarter of 2016, which resulted in a nominal increase in oil prices. Prices are expected to stabilize in 2017 on the backdrop of a re-balance in the supply and demand fundamentals. Insidermonkey experts made a list of 11 best oil company stocks to buy now.
Due to the oversupply of oil worldwide, the oil industry had suffered a big revenue lost in the last two years because they had to reduce their prices in order to survive the tough market. Only the US had exported around 6 million barrels per a day during the period between 2008 and 2015, so there is no wonder why there were too many oil reserves left on hold during these 2 years. These companies that show the greatest potential for investment, not just that managed to balance their lower prices with their expenses in general so that they could stay in business, but they also left the opened window for increasing their prices once the industry, in general, is brought back on its feet.During their existence not only that they gained the great trust of their customers, but they also gained the trust of their investors because of their great business management. You can also check our list of 11 best insurance companies to invest in 2017.
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