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Anonymous
Thoughts on oil stocks like Exxon and Chervons?
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Chris
25 Mar 2021
Owner and Writer at Tortoisemoney.com
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Disclaimer: This is solely my opinion, not financial advice. I might be wrong, I might be right but only time will tell.
I do believe that oil won't just go away overnight and most of the world will continue using oil for many, many things. BUT I do think, that we are and will continue to shift towards other sources of energy over time, which would make oil companies increasingly unattractive. Moreover, Oil companies are predominantly affected by the oil price which is not exactly in their control. This subjects oil companies to volatility of the oil market and essentially at the mercy of OPEC. Personally I don't really like such unpredictability in my stocks. As such, my choice is that I won't be touching such stocks, especially when tech is taking the biggest beating it's had in a while and some tech companies are trading at prices which I would say are, a steal.