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17 oil stocks with up to 180% upside as OPEC tightens supply: BofA

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Bank of America says buy these 17 oil stocks that have upsides of up to 180% as OPEC tightens supply and gas prices are expected to rise

As OPEC tightens supply, gas prices will rise but so will share prices for the sector's stocks.A note from Bank of America estimates that the sector's stocks have an average upside of 31%.On Monday, the Organization of the Petroleum Exporting Countries that it will cut oil production by more than 1.66 million barrels a day. The group said it was a"precautionary measure" to stabilize the oil market.

For drivers at the pump, it's bad news because the price of gas will rise. But for the sector's stocks, it may be good. Oil prices had been on a gradual decline since June after West Texas Intermediate crude, the US benchmark, hit an all-time high of about $123 a barrel in March. OPEC's announced cuts helped oil rally above $81, up by about 6% since Sunday.

 

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Might as well buy and ETF

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