Saudi Aramco warns that the international market for oil remains tight. According to the world’s largest oil producer, the capacity is deficient, which is not a good sign as we rely mainly on fossil fuels.
Amin Nasser, the CEO of Saudi Aramco, said at a London conference that if a situation like economic improvement or the increase in the fuel demand by the aviation industry, the spare capacity will be eroded. Oil prices can increase soon, added Nasser.
Nasser thinks there is enough reason for the world to worry if the spare capacity is eroded. There would be no hiccup or interruption then, stated the CEO of Saudi Aramco.
Keeping the situation in view, here are the oil stocks you can track.
Chevron
The company is benefitting a lot these days. The earnings have grown to $11.6 billion from $3.1 billion within just one year. The sales and revenues of the company were up by 81%. The stock of the oil and gas company also enjoys an excellent position after it climbed thirty-two percent in the current year.
SHEL
Shell, or SHEL, operates in as many as seventy countries, with its headquarters in London. The energy giant sold sixty-four million tons of LPG last year and produced more than three barrels of oil daily. According to the experts, being enlisted in New York and London stock exchanges, the company has high potential, and investors should keep an eye on it.
Exxon Mobil
This company is even bigger than Chevron and Shell regarding market cap, stock performance, and cash flow. The profits of Exxon Mobil have jumped up to $23.3 billion from $7.4 billion in a year, with cash flow increasing.
