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StockNews.com
Business
Jay Soloff

With Oil Soaring, My Under $10 Stock of the Week

Oil Canada United States

The cost of oil right now is right at 27% higher than it was a year ago. And, we just had another spike as Saudi Arabia and Russia announced in early September, they would be extending production cuts of 1 million barrels per day through the end of the year. 

Their unwillingness to pump additional supply is a boon to oil and gas developers like Baytex Energy (BTE), which develops oil and gas properties in the U.S. and Canada. Baytex operates in the Western Canadian Sedimentary Basin and in the Eagle Ford in the U.S.

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