Two Oil Stocks Increasing Drilling Activity as Crude Prices Exceed $100 a Barrel
Crude oil prices have surged to over $100 a barrel due to the war with Iran and the prolonged closure of the Strait of Hormuz. While ExxonMobil and Chevron are maintaining their capital spending plans, ConocoPhillips and Diamondback Energy are increasing drilling activity to capitalize on the price surge.
Topics: capital_spending energy_production geopolitical_conflict oil_prices