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Elvira Chiriac
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Following the situation in Ukraine and the problems that some companies are having with stocks, stocks like oil have gained momentum again among ordinary investors. Thanks to a good market period, oil has become one of the most successful stocks.

An extremely good move at this time is to launch an investment in oil stocks. To guide you towards this move, today we will show you how to buy oil stocks, commission-free and from the comfort of your home.

A quick guide to the process of buying oil stocks

  • First step – Register an account within the eToro platform : After accessing the official eToro website, press the „Join Now” button and register an account within the platform.
  • Second step – Upload a picture of a personal identification document within the eToro platform: You can use a passport, passport or driver’s license to verify your identity, a process that will take very little time.
  • Third step – Deposit currency: For deposit, the following methods can be used: debit/credit card, virtual wallets or bank transfer. The minimum deposit is within the platform is 10 dollars.
  • Fourth Step – Access Oil Stocks: In the search bar of the platform enter the name of the oil stock you wish to purchase. Once you have done this, press the „Trade” button.
  • Fifth Step – Buy Oil Shares: Enter the desired amount, minimum $10, and then press „Open Trade” to complete the process.

74% dintre investitorii de retail pierd bani atunci când tranzacționează CFD-uri cu acest furnizor.

1. eToro – The best platform to buy oil stocks in 2022 eBull - Logo

eToro is the largest and most trusted platform of its kind, making it the best choice to buy oil stocks in 2023. This platform gives you access to thousands of tradable stocks, being used by over 25 million users in the United States of America alone.

eToro is used by investors around the globe, trading oil stocks with zero commission. In addition, your eToro account allows you to access a multitude of financial markets.

The platform allows you to invest in stocks starting from as little as $10, which gives you the chance to trade extremely expensive stocks at a more affordable price.

eToro - active available

Dividends earned from the purchase of oil stocks are deposited directly into your personal eToro account . They can be reinvested in this domain or extracted at the user’s request. In addition, there are many commission-free exchanges available for purchase if you want to have a more diversified virtual portfolio.

If you want to invest in the oil market, this is possible. Using the platform’s ” portfolio copy ” facility , you can trade based on expert picks. This allows you to invest passively , as you only need to choose an expert with satisfactory results.

Argument for

  • Minimum deposit of only $10
  • Oil stocks have zero commission
  • Debit/credit cards and PayPal are accepted within the platform
  • Verified by many top companies
  • „Copy portfolios” facility for trading is present
  • The platform is very accessible

Argue against

  • Not the best choice for advanced investors

Logo eToro

74% dintre investitorii de retail pierd bani atunci când tranzacționează CFD-uri cu acest furnizor.

2. OKX – affordable alternative for trading oil stocks

OKX LogoWhen it comes to trading oil stocks, it is necessary that you first of all stay up to date with the new information on the subject, while also looking for a platform that provides you with the necessary tools and security. So, one of the platforms that our specialists recommend in this regard is represented by OKX.

This is, more specifically, a cryptocurrency exchange, through which investors can simplify their trading process as they have various tools at their disposal through which they can improve their investment portfolio.

OKX Website

So, OKX is one of the best alternatives you can turn to if you want to trade oil, but also any other cryptocurrency pair, with a quality and completely secure process. And if you want to always be updated on the new information on this topic, do not hesitate to install the OKX application, which is available on any mobile device.

Argument for

  • Reduced fees
  • Ability to trade oil stocks
  • Free demo
  • Intuitive interface

Argue against

  • Only digital currencies as deposit methods

OKX Logo


Banii dvs. sunt în pericol.

What do oil stocks represent?

Oil stocks represent companies that deal with the extraction of oil. In short, when you buy shares on a trading platform , your money is invested in that company with the idea that it will increase in value over time.

The oil business allows you to enjoy high profits and receive dividends when you own the stocks.

In general, all oil companies offer dividends to stockholders. This means receiving a payment quarterly or twice a year. Investors should choose the company they want to invest in very carefully as the market is volatile. Stable companies with the greatest financial strength can generate these payments quite profitably.

Investing in oil stocks is similar to investing in other stocks. Your goal is to purchase these stocks at a very low price in order to make a huge profit when prices rise. However, before taking this step, a very close look at recent prices should be taken to see how the oil business is doing.

When choosing the company whose shares you want to invest in, you should look for it to be as strong and stable as possible in the event of a price crash. It is a wise choice to invest in a company that has a low cost of production and can withstand a price fluctuation. Mid-sized companies in this field have the greatest potential to have the necessary qualities, stated above, with serious contractual obligations.

Oil stock prices

Oil share prices have had a very complicated time due to the current situation between Ukraine and Russia. This is due to Russia’s very large natural gas reserves, being also one of the largest oil exporters in the world.

Following the publication of prices by Oil Price Charts, we can see the price of $119.72 of a barrel of Brent oil, which had an increase of 1.79%, as well as the price of a barrel of WTI oil, which had an increase of 1.71%, reaching the price of $118.87 .

Oil production will increase globally, and experts say prices could rise.

To cover Russia’s oil stock, global companies need to massively increase investment in this area to be able to fill used reserves in the meantime.

Speculation on oil stock prices

Experts believe that the price of oil in 2023 is driven by the conflict between Ukraine and Russia, as well as Iran’s nuclear weapons talks.

It is speculated that Brent oil could reach a price between $115-$130/barrel. However, an unfortunate event would be the price of a barrel falling to $60-$85 due to the economy in China.

UBS notes that a politically unstable period in terms of oil production in the regions of Venezuela, Libya, Nigeria and the Middle East could lead to a significant drop in oil stocks.

ANZ Research claims that Brent oil would have a price of around $86.80 in the near future. In the year 2023, it is estimated that the price could drop to $86.20 . However, WTI oil could reach the price of $85.10 in 2023, compared to the price of $83.90 in 2022.

The company Rystad Energy stated that in 2023 the price of oil could be lower due to demand and inventory. In 2025, according to the United States, Brent oil could reach $66/barrel , while WTI oil could reach $64/barrel.

Three Oil Stocks Worth Buying

We’re going to show you the three best US oil stocks to buy in 2023.

1. ConocoPhillips – Best Oil Stock to BuyConocoPhillips Logo

This company operates in many countries, with its primary headquarters in the United States. It is one of the biggest companies and its goal is to discover oil and natural gas.

ConocoPhillips wants to give stockholders a fairly large percentage of profit in the coming years. Dividends will trade to investors steadily, and shares will launch into repurchases.

In 2021, the company’s shares had a price of $6.07/share, much more compared to the previous year. $6 billion in dividends was given back to investors through share buybacks and dividends. The company made public the announcement regarding its desire to return two billion dollars to investors holding shares in the year 2023.

The company has an exceptional financial profile and a fairly cheap portfolio, consistently having very good reviews, with a low-leverage system and an economy that can support any problem.

2. Exxon Mobil – An excellent oil stock choice for dividend payoutsExxon Mobil Logo

This company produces gas and oil, being launched in 1999 after the merger of Mobil and Exxon companies. Exxon Mobil is one of the largest oil companies in the market, with a total value of more than 350 billion dollars.

The company wants to become much more efficient and reduce its costs significantly. Over the years, the company has managed to do this, returning a nice profit to investors. In addition to these things, it has improved the leverage system of now giving them an extremely high profit when the price of oil rises.

In the next year, Exxon Mobil is speculated to have a price/share of $8.61 .

Exxon Mobil remains focused on investor enthusiasm and their desire to take part in high oil prices in order to make a profit. Even though this company has experienced a 60% increase this year, it is speculated that it could reach a price of a barrel of WTI oil of $120, and in the future even $130 .

As long as currency is generated, the company maintains its dividends. Exxon Mobil invests in clean fuel sources like carbon and in fuel sources that have the power to regenerate, so oil-averse investors can definitely choose this company.

3. Phillips 66 – A very good and stable oil stockPhillips 66 Logo

This company deals with the processing of conglomerates to provide the world with diversified energy.

Phillips 66 has the lowest costs in this field, dealing with raw products for use in petrochemicals and refineries, which has increased its profitability exponentially.

The company performs differently than other companies in the field, experiencing a growth of 5% after one year and 11% after five years.

Phillips 66 has a very stable financial profile with a very large economy. Due to the low costs, she can invest in very expensive projects that generate her profit.

The company deals with wise investments, thus returning currency to investors.

Logo eToro

74% dintre investitorii de retail pierd bani atunci când tranzacționează CFD-uri cu acest furnizor.

Buy oil stocks within the eToro platform

These days it is extremely simple to buy stocks. This can be done very easily within the eToro platform, making it an excellent choice for all investors interested in this field.

Below we will present you in great detail all the steps you need to take to make an investment.

First step: Register within the eToro platform

It is very easy to register within the eToro platform. Go to the official website, press the „Join Now” button and enter your personal details. The platform will need your address, name and CNP. All platforms of this type require personal data.

Second step: Upload a personal ID and confirm your identity

The platform will need a personal identity document of yours. The documents that can be used are the report card, passport or driver’s license. The copy of the document must be clear.

In addition to this document, you must upload proof of location. This can be done by uploading an invoice or bank statement, for example.

The process is extremely fast and efficient, so you won’t have to wait long.

Upload documents to eToro

Third step: Deposit currency within the platform

To trade within the eToro platform, you must deposit currency. This deposit can be made via a Visa or Mastercard bank card, PayPal, virtual wallet or bank transfer. If you store from the United States, you will not incur a storage fee.

Depositing funds on eToro

Step Four: Search for the oil stock you want

Enter the name of the oil stock you want to buy in the eToro platform search bar at the top of the screen.

For example, search for „Exxon Mobil” and press Enter. If you want to explore the market, press „Discover” and see all the oil stocks within the eToro platform.

Step Five: Buy your chosen oil stock

Click on the „Trade” button and enter the amount you want to purchase. After completing this step, press „Open Trade” and complete the transaction.

Buy shares on eToro

Conclusion of today’s review

An investment in oil stocks, especially now that the commodity market is on the rise, is an extremely wise idea with huge profit potential.

You can make this investment within the eToro trading platform, which is an extremely simple process.

eToro is also quite affordable, with a minimum required deposit of just $10, with no purchase fees.

Logo eToro

74% dintre investitorii de retail pierd bani atunci când tranzacționează CFD-uri cu acest furnizor.

Frequently Asked Questions

How can I invest in oil stocks if I don't have a lot of money?

What is the oil exchange?

Does the oil market pay dividends?

Elvira Chiriac

Elvira Chiriac

Elvira este pasionată de finanțe și investiții, de aceea ține mâna pe puls și este la curent cu toate trendurile relevante din aceste domenii. Înainte de a distribui un insight sau o informație valoroasă, Elvira verifică informația respectivă, asigurându-se, astfel, că cititorii Trading Platforms obțin doar informații calitative, bazate pe research.