Prediction: Oil Is Heading to $60 a Barrel by 2027, and These Stocks Are Worth Buying Now
The oil market is on track to shift from a shortfall to a glut in the next year.
Overview
Oil prices doubled at one point this year due to the closure of the Strait of Hormuz, surging from around $60 to almost $120. However, crude has given back most of those gains, falling into the $70s, as the U.S. and Iran have agreed to a deal to reopen that key energy waterway.
While the oil market has a long road to recovery, I expect oil will hit $60 a barrel at some point next year. Here's why and the oil stocks to buy under this scenario.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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