Last week was bad for oil stocks. Even though OPEC+ nations delayed their production cuts scheduled to begin in October, global demand for oil weakened considerably.
The benchmark Brent crude price fell below $73 per barrel, while the popular U.S. West Texas Intermediate (WTI) price dipped below $70 a barrel.
Yet this is an opportunity for investors to buy into the sector as the long-term tailwinds for the industry remain strong.
That makes any weakness in oil stock prices now an investment opportunity. These three companies should be stocks to buy now.
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