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If you’re like me and are watching oil stock prices with both dread and excitement, I’ll bet you haven’t had much sleep lately. It seems like each day there is another headline screaming why you should be buying up as many oil stocks as you can and the next day selling them all! The word that I keep reading again and again is glut. This frankly gross word describes both the large amount of oil Western Canada is stuck with at the moment and how you might feel about the amount of oil stocks you own. Any can feel like too many. But it’s time to take a deep breath and realize that although this glut sounds awful (and, sure, right now it is), this overproduction isn’t permanent. That’s why right now is the best opportunity to find an energy stock that is cheap, reliable, and flexible in this volatile market. Enter Canadian Natural Resources Canadian Natural Resources (TSX:CNQ) (NYSE:CNQ) had a banger day on Dec. 5 after the company released its financial plans for 2019. Analysts and investors alike were impressed by CNR’s reaction to the overproduction of oil. CNR announced budget cuts of $1 billion because of […]
