Our Top 3 Energy Stocks for October

Oil has finally topped $50 a barrel, a crucial point in marking a potential crude bull market. The latest price spike stemmed from an apparent OPEC agreement which aims to cut output to around 32.8 million barrels per day  from 33.5 million bpd.

Apart from OPEC cuts, cheap American shale production continues to grow the market for natural gas. Today, the U.S. produces and consumes more gas than ever before.

Due to excess supply, exports are on the rise. Last year, exports increased 17.8% to 1,783 Bcf, with 1,054 Bcf going by pipeline to Mexico, about 700 Bcf to Eastern Canada, and 28 Bcf by LNG tanker.

On the renewable energy side, growth continues to be rampant.

The U.S. Energy Information Administration now projects that U.S. electricity generation from renewable sources will increase 9.5% in 2016 and 5.8% in 2017.
Not including hydropower (which is growing more slowly), those numbers would climb to 11.8% in 2016 and 11.1% in 2017.

What should you do with all of this information?

At InvestorGuide, we've put together a list of our writer's best energy stocks for October—all of which look to capitalize on the trends listed above.

Continental Resources: A Smart Bet for Rising Oil

Continental continues to have significant long-term growth prospects.
Our Top 3 Energy Stocks for October
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With oil on the rise, shares could be worth a look.

Cheniere Energy: A Huge Growth Story is Now Beginning

The company’s significant long-term growth prospects are driven by a solid global demand for cleaner fuels.

First Solar: Strong Buy Despite the Weakness

First Solar is a good pick for both short and long-term investment. Recently, the company posted better-than-expected earnings of $1.66 per share, topping the fourth-quarter earnings of $1.60 per share and the consensus estimates of just $0.93 per share.
Published on Oct 10, 2016
By Ryan Vanzo
Ryan Vanzo is the Digital Business and Finance Editor at WebFinance Inc, which runs InvestorGuide.com, InvestorWords.com, and BusinessDictionary.com. You can reach him at ryan@investorguide.com

Copyrighted 2020. Content published with author's permission.

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