For years, the world ran on oil, and oil companies dominated the market. These days, however, as more and more countries push for renewable energy, the future of oil is becoming uncertain. Oil companies are having to redefine themselves to stay on top.
Despite the uncertainties facing the industry, oil companies still dominate the energy sector. They make up about 31.2% of the world energy mix. In 2021 alone, the oil and gas sector brought in around $2.1 trillion in revenue. Oil companies make up around 3.8% of the global economy.
Investing in oil stocks might seem like risky business. But for those who know where to look, it can still be a profitable enterprise. If you’re considering adding Canadian oil companies to your investment portfolio, here’s what you should know.
Related: List of stocks in the TSX energy sector
What are oil stocks?
Oil stocks are companies engaged in the production, transportation, and…
