Our 7 Favorite Oil Stocks Heading Into Q4

When it comes to the overriding narrative of oil stocks to buy in 2022, the framework points to an obvious catalyst: Russia, Russia, Russia. With its invasion of neighboring Ukraine, the action tilted the energy market off kilter. Further, with Ukraine now gaining momentum with its counteroffensive, the fear is that the Kremlin will become a cornered animal.

Cornered animals are unpredictable though arguably in this case, whatever actions the Russians would take aim at Western interests. Cynically, this dynamic represents another catalyst for oil stocks to buy. Further, Moscow has already ordered critical energy outflows to Europe to be cut, plunging the region into a potential crisis.

While the primary issue focuses on natural gas, Europe depends on Russia for various critical commodities, including crude oil. As Reuters reported, European leaders have been bracing for retaliatory actions by the Kremlin for their support of Ukraine. Because the battlefield shifted unfavorably for Russia, oil stocks again garner much attention, especially headed toward the winter season.

Though no one can predict what will happen next, it may be time to at least prepare the fort. Here are seven oil stocks to consider.

$Exxon Mobil(XOM.US)$ : Covering the core bases of the oil sector, Exxon Mobil presents a reasonable bet.

$Shell PLC(SHEL.US)$ : Another global oil giant, Shell is also making big bets on green energy.

$Occidental Petroleum(OXY.US)$ : If Occidental Petroleum is good enough for the Oracle, it's good enough for us.

$Enbridge(ENB.US)$ : Owning the world's longest oil and gas transportation system, Enbridge offers supreme relevance.

$Magellan Midstream(MMP.US)$ : Magellan Midstream's high dividend yield could attract investors.

$Phillips 66(PSX.US)$ : Specializing in the downstream component, Phillips 66 should be a solid bet.

$PetroChina(PTRCY.US)$ : Recently delisted, PetroChina presents controversies but also an opportunity for the agnostic investor.