Top energy sector picks as oil prices push higher

by Seana Smith and Brad Smith
click here to read this article at Yahoo Finance
*this article was not written by Roseland Oil & Gas

Oil prices (BZ=F, CL=F) have been on the rise this month, as geopolitical tensions and summer demand mount. Wells Fargo senior energy analyst Roger Read joins Morning Brief to give insight into the movement in oil prices and how investors can play the energy sector moving forward.

Read explains that the most important factor to watch in the industry is how OPEC comes back into the market: “They stated at their last meeting they want to bring their oil back in but that they put caveats on it. We want to bring it back in a way that doesn’t upset the market. So they’ve kind of put a number, let’s call it aspirational, and then they’ve got a number that let’s call it the realist number. And what it says is OPEC wants to put more oil on the market, OPEC will put more oil on the market, but OPEC wants to do it in a rational way,” Read notes.

In the integrated oils sector, Chevron (CVX) is Read’s “top pick,” while Suncor (SU) is a key player in the international exploration and production sector. In the refining space, Phillips 66 (PSX) is also a top Wells Fargo pick.

by Seana Smith and Brad Smith
click here to read this article at Yahoo Finance
*this article was not written by Roseland Oil & Gas