Recently, oil prices have fallen and are now less than 10% below its peak of $85, which was more than a year ago. Such pullbacks have proved to be excellent entry points over the past year. Investors should buy 3 stocks in oil and natural gas on the correction: Continental Resources (NYSE :), Occidental Petroleum NYSE :, and Suncor Energy NYSE : . has been one the most successful assets with a 61.9% increase in performance. This rise is due to the fact that global oil demand rebounded much quicker than expected and didn’t drop as much during the shutdowns and pandemics. The IEA estimates that global oil consumption fell by an average of 91.5million barrels per daily in 2020, compared to 100.3 million barrels a day in 2019.

The flip side is that oil production fell sharply in 2020, and it has taken longer for it to recover to pre-pandemic levels. Production in 2019 was 95 million barrels/day, with a decline to 88.4m barrels/day. On average, 2021 will produce approximately 92 million barrels per hour. Over the next few years, this number is expected to rise to 100,000,000 barrels each day.

Recently, oil prices have fallen and are now less than 10% below its peak of $85. Such pullbacks have proved to be excellent entry points over the past year. Three oil and natural gas stocks to consider investing in on this correction Continental Resources (CLR), Occidental Petroleum (OXY), Suncor Energy (SU).

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