5 Canadian Oil Stocks To Buy That Are Too Cheap To Ignore
For many years, the world was powered by oil, and oil companies ruled the market.
However, as more countries push for renewable energy, the future of oil is becoming more uncertain.
To remain competitive, oil companies must reinvent themselves.
What is oil stocks?
Oil stocks are companies that are involved in the extraction, transportation, and refining of crude oil.
Enbridge (TSX: ENB)
01.
A large midstream company that owns a vast network of pipelines that transport oil between Canada and the United States.
Canadian Natural Resources (TSX: CNQ)
02.
One of Western Canada's largest oil and natural gas producers, with daily production averaging 1.15 million barrels of oil and reserves totaling more than 11.5 billion barrels.
Suncor (TSX: SU)
03.
An integrated energy company that develops oil sands, extracts offshore oil and gas, and sells oil products through its retail subsidiary, PetroCanada.
Cenovus Energy (TSX: CVE)
04.
An integrated oil company with 6.7 billion in reserves that produces around 472,000 barrels of oil per day.
ExxonMobil (NYSE: XOM)
04.
One of the world's largest integrated oil companies, with reserves of 18.5 billion barrels and production of up to 2.3 million barrels per day.