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This Top Oil Stock Believes It Has What It Takes to Thrive Amid Sinking Oil Prices
Oil prices have slumped this year. WTI, the primary U.S. oil price benchmark, has fallen more than 10% this year to the low-$60s. That's due to demand concerns from a potential slowdown in the global economy and increased supply as OPEC unwinds its voluntary production cuts faster than many anticipated. The slump in oil prices will impact the cash flows of oil companies. However, some producers are in a better position to weather lower oil prices than others. ConocoPhillips (NYSE: COP) is in that group. Because of that, it's one of the top oil stocks to buy and hold during the current market environment.Continue reading
Oil prices have slumped this year. WTI, the primary U.S. oil price benchmark, has fallen more than 10% this year to the low-$60s. That's due to demand concerns from a potential slowdown in the global economy and increased supply as OPEC unwinds its voluntary production cuts faster than many anticipated.
The slump in oil prices will impact the cash flows of oil companies. However, some producers are in a better position to weather lower oil prices than others.
ConocoPhillips (NYSE: COP) is in that group. Because of that, it's one of the top oil stocks to buy and hold during the current market environment.
