Five Oil Stocks to Look Out For

Seeking Alpha reported that oil stocks such as Chesapeake Energy (NYSE:CHK), El Paso Corp. (NYSE:EP), Cabot Oil and Gas (NYSE:COG), Whiting Petroleum (NYSE: WLL),and Forest Oil (NYSE:FST) may be good for a short-term purchase or for the purpose of hedging.

As quoted in the market news:

The oil and gas sector largely depend on the global market scenario as well as on certain political uncertainties around the world. Likewise, the oil stocks are also greatly impacted by the global market environment. However, the market outlook of oil & gas sector for 2012 looks extremely positive, from expected surge in the global economy, expansion in consumer base, and most importantly increase in oil prices.

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