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Why Oil Stocks Are Moving Higher Today

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Why Oil Stocks Are Moving Higher Today

The shares of several oil companies are trading higher on Thursday as oil prices gain following a Saudi Arabia supply cut agreement. EIA also reported a larger-than-expected draw in U.S. crude inventories.

BP plc (NYSE: BP) is an integrated oil and gas company that explores for, produces, and refines oil worldwide. In 2019, it produced 2.3 million barrels of liquids and 9.5 billion cubic feet of natural gas per day, including volumes from its 20% ownership interest in Rosneft.

BP's shares were trading up 1.96% higher at $23.87 Thursday. The stock has a 52-week high of $39.30 and a 52-week low of $14.74.

Chevron (NYSE: CVX) is the second-largest oil company in the United States, with the production of 3.2 million barrels of oil equivalent a day, including 7.6 million cubic feet a day of natural gas 2 million barrels of liquids a day.

Chevron shares were trading up 0.13% at $89.92. The stock has a 52-week high of $119.09 and a 52-week low of $51.60.

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2019, it produced 2.4 million barrels of liquids and 9.4 billion cubic feet of natural gas per day.

Exxon Mobil shares were trading up 0.40% at $44.79. The stock has a 52-week high of $70.28 and a 52-week low of $30.11.

Talos Energy Inc (NYSE: TALO) is an independent oil and gas company primarily involved in offshore exploration and production. The company has its operations in the United States, Gulf of Mexico, and offshore Mexico.

Talos Energy shares were trading up 1.59% at $9.60. The stock has a 52-week high of $31.19 and a 52-week low of $5.

 

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