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In this piece, we will take a look at the ten oil stocks that are too cheap to ignore. To jump straight to the top five stocks in this list, head on over to 5 Oil Stocks That Are Too Cheap To Ignore . At a time when the global economy is under severe strain due to the Russian invasion of Ukraine and interest rate hikes by the Federal Reserve, OPEC+, led by Saudi Arabia, injected fresh life into crude oil prices when it announced a large production cut to ensure that prices remained above $90/barrel. This made oil prices jump again, and cemented the need for non-OPEC oil suppliers. In this backdrop, and despite the ongoing push towards renewable energy, the oil industry will continue to perform strongly. This assumption is backed by a host of market research reports, which analyze the oil industry as a whole and break it down into bite sized chunks for a deeper analysis. For instance, a report from The Business Research Company , which takes a look at the global crude oil market, estimates that this market was worth $1.35 trillion in 2021, and it will grow at a compounded annual growth […]
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