At the time of publication the author had a position in CVX. Follow @m8a2r1 This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Check out the relationship between movement in the stock and the United States Oil ETF.
Oil producers are expected to ramp production in response to OPEC's recent production cut agreement, but the U.S. Department of Energy suspects this will stunt oil price increases through 2018.
Growth is almost guaranteed in these two areas, says James McDonald of Index Strategy Advisors.
Domestic crude stockpiles increased by 4.1 million barrels less than two weeks after OPEC initiated production cuts to rebalance the global oil market.