Buy These 2 Oil Stocks For Big Dividend Hikes (Thanks To Biden)

Buy These 2 Oil Stocks For Big Dividend Hikes (Thanks To Biden)

Declining row of crude oil barrels We aren't falling for this "head fake" oil plunge. Instead we're buying what I like to call the "Biden barrel discount"— grabbing beaten-down oil stocks with surging dividends! I'll drop two tickers primed to ride oil's next bounce higher in a second. First, though, here's what I mean by the "Biden barrel discount": Crude Oil in SPR Sure, oil has pulled back on recession worries, but the US has also been releasing crude from its "emergency" supply, the Strategic Petroleum Reserve (SPR). A cool one-hundred million barrels have been released in the past 12 months. We've been buyers of the energy-price dip because: Crude oil is trading near important support levels, which means there are plenty of buyers of the goo here. Meanwhile the economy continues to muddle through. Oil supply remains tight. Prices per barrel are much more likely to increase by $20 than fall by $10, in my estimation. "Deglobalizing" World Puts Crude Supplies in a Vise Meanwhile, the global trading system is crumbling. Consider Russia, a pariah state whose production has bounced back after its illegal and immoral invasion of Ukraine, largely due to higher sales to its "friends," India and