2 Oil Stocks Poised to Benefit from OPEC’s Production Cuts
Just a month after raising oil production by 100,000 barrels per day, OPEC is set to make a U-turn toward August production levels via a token production cut of the same volume throughout October. This decision was endorsed in a short meeting on Monday, sending oil prices shooting up about 3%. Despite some adverse trickle-down impacts on the energy sector, strong oil companies in the U.S., like Schlumberger and Hess Corporation, are most likely to cash in on the opportunities that should open up.
2 Oil Stocks Poised to Benefit from OPEC’s Production Cuts
Just a month after raising oil production by 100,000 barrels per day, OPEC is set to make a U-turn toward August production levels via a token production cut of the same volume throughout October. This decision was endorsed in a short meeting on Monday, sending oil prices shooting up about 3%. Despite some adverse trickle-down impacts on the energy sector, strong oil companies in the U.S., like Schlumberger and Hess Corporation, are most likely to cash in on the opportunities that should open up.