Investing in oil stocks can offer exposure to the energy market and its potential for growth. These stocks mainly comprise companies involved in the upstream (exploration and production), midstream (transportation and storage), and downstream (refining and marketing) segments of the industry. The performance of oil stocks is closely tied to the price of oil, making them prone to fluctuations and potential volatility.
As the world increasingly shifts towards renewable energy sources and carbon reduction goals, the long-term outlook for the oil industry is evolving. This transition presents both challenges and opportunities for oil companies as they adapt their business models and invest in alternative energy solutions. Considering this, here are three oil stocks to watch in the stock market now.
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