Supply constraints, coupled with bullish oil demand forecasts from both the International Energy Agency (IEA) and OPEC for this year, are expected to drive oil prices higher. Meanwhile, apprehensions regarding heightened U.S. engagement amid escalating geopolitical tensions in the Middle East are fueling increased volatility in the energy market.
With these factors in mind, in this piece, I have compared the fundamentals of two industry players, Occidental Petroleum Corporation (OXY) and Valero Energy Corporation (VLO), to determine which one could be a better addition to your portfolio.
