It is clear that this year oil has once again become the focus of the stock market. Geopolitical tensions in the Middle East—especially the escalating Iran war—have thrown the world’s energy transportation routes into uncertainty. As a result, oil prices fluctuate sharply, creating enormous opportunities for investors.

When it comes to oil stocks worth watching, many people may look at foreign companies. However, in fact, Thailand’s market also offers quite solid options. Starting with PTT, which is a core stock that consistently pays dividends in the range of 5-7% per year. Even though it faces government price-intervention policies, it remains a suitable choice for those seeking stable oil stocks.

PTT Global Chemical is another interesting option. This stock rises and falls along with the global petrochemical cycle. If you understand the cycle and are ready to withstand volatility, it could be a ripe opportunity to generate profits. Thai Oil also looks attractive because it is a refinery company with clean energy projects that help lower costs. As for Bangchak Corporation, it has recovered from acquiring Esso, which has led to a significantly increased share of the service-station market.

If you want to invest in oil stocks with continuous growth, PTG Energy is another option. The company expands its network of oil pumps and grows through businesses outside of oil, such as coffee shops, which helps support profits.

When it comes to foreign oil stocks, the options become more plentiful. Saudi Aramco is the world’s largest producer, pays huge dividends, and is the most stable—but you still need to consider geopolitical risks. Exxon Mobil and Chevron are American stocks with a long history of paying dividends. Exxon controls massive drilling assets in the Permian Basin, while Chevron has strong cash flow and a clearly defined share buyback policy.

PetroChina is an option for those who want to diversify their portfolio into Asia. It benefits from the Chinese market’s monopoly, but you must understand the risks arising from government policies. Royal Dutch Shell is considered a leader in liquefied natural gas, an important energy source during the transition period, but it also faces environmental pressures.

When talking about ways to invest in oil stocks, there are many channels. Some people like to invest through oil funds that reference global crude oil futures contracts. Others choose to buy individual stocks so they can control their investments themselves. In addition, there is CFD trading, which requires less capital, offers high leverage, and allows you to trade both in uptrends and downtrends.

One advantage of investing in oil stocks is that prices are relatively stable in the long term, even though they can be volatile in the short term. Oil is a vital resource used across many industries, which helps ensure continuity in those industries. Many companies have high profit margins and, for the most part, pay dividends consistently. In addition, it can also be used as a hedge against inflation.

However, you also need to understand the factors that affect oil stocks. The global economic situation has a major impact, because demand for oil depends on economic growth. Geopolitical issues—especially in the Middle East—can create intense pressure on prices. Closing the Strait of Hormuz, which carries 20% of the world’s oil, could trigger a supply shock.

Production capacity of the producers is another key factor. If production is insufficient to meet demand, prices will rise. Conversely, if OPEC or major producers increase output, prices may fall. Seasonality and climate conditions also have an effect. For example, during winter in Europe and North America, demand for heating oil increases. Fluctuations in the exchange rate against the U.S. dollar also affect import costs.

In summary, what oil stocks are available depends on what you want. If you want stability and dividends, PTT, Thai Oil, or Saudi Aramco are good choices. If you want growth, Bangchak Corporation or Chevron may be more suitable. If you want higher returns and dividends, you should consider Exxon Mobil or Shell. The most important thing is to understand the business and the factors that affect prices, because then oil can become an asset that generates profits consistently.