OPEC is the news of the day, but long term there may be good news for oil prices.
The price of oil jumped on Tuesday as OPEC considered cutting 1-2 million barrels of production per day. Why is oil still so volatile and what can we expect in the future? Travis Hoium covers that in the video below, including why Phillips 66 (PSX -1.03%) and ExxonMobil (XOM -0.57%) are positioned to profit no matter what happens and why you should avoid United States Oil Fund (USO 0.15%).
*Stock prices used were end of day prices of Oct. 5, 2022. The video was published on Oct. 5, 2022.
Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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