5 Oil Stocks Set to Make a Comeback

By InvestorPlace Staff

It was the summer of American discontent with the oil industry in the wake of the BP(BP) Gulf spill. But now that the well is capped -- and President Obama himself has taken a dip in the Gulf waters -- investors are hoping that as the summer cools off, oil stock prices start to heat up.

Of course, it's still tough going for some oil stocks. Economic growth questions overseas coupled with worries over domestic crude oil demand have investors on alert. On the Nymex, the September delivery contract for crude has headed south to $75.20 a barrel in a season that usually sees surging oil prices. Other analysts also say technical factors point to a further pulldown in prices.

But not all oil stocks are suffering. A closer look at some major energy industry picks shows that the popular opinion favors an upside of up to 31% in some of the biggest names in crude.

Here are five oil stocks to watch.