5 Major Oil Stocks Drawing Global Investor Attention

Jakarta, Pintu News – Oil companies do more than just drill. The industry includes upstream companies that lift oil from the ground, refineries that process crude oil into gasoline and airplane fuel, and pipeline companies that deliver energy and earn revenue from tolls.

This diversity is important because each part of the oil industry chain will benefit or suffer differently, depending on market conditions. With that in mind, here are the 5 biggest oil stocks in the world that are stealing the show right now.

ExxonMobil

As one of the world’s largest oil companies, ExxonMobil (XOM) is a fully integrated supermajor. The company operates across the entire oil and gas industry chain, from exploration and production (E&P), midstream sector, petrochemical manufacturing, refining, to marketing refined products and oil derivatives to consumers.

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In recent years, ExxonMobil has focused its efforts on lowering operating costs and improving business efficiency. The results of these moves are starting to show. The company has managed to significantly reduce its oil production costs by focusing on assets that provide the highest returns, while making more optimal use of its enormous scale. This approach allows ExxonMobil to generate strong cash flows when oil prices are at higher levels.

The cash flow is expected to continue to support ExxonMobil’s dividend sustainability, while maintaining its status as a Dividend Achiever, a stock that has successfully increased its dividend payout for 10 consecutive years.

Chevron

Chevron (CVXON) is a global energy giant that operates at every stage of the oil and gas value chain. In simple terms, the company can be understood as a large integrated entity that finds energy sources from deep within the earth, transports them to various regions of the world, and then processes them into fuel for vehicles or plastic raw materials for various consumer products.

Chevron has a solid balance sheet and a long track record of increasing dividends, while still seeking growth in potential areas such as Guyana. The company also recently acquired Hess Corp. to complement and strengthen its business portfolio.

Overall, Chevron can be viewed as an investment choice that is likely to be stable and gradual, resting on the prospects of future fossil fuel demand.

ConocoPhillips

ConocoPhillips (COP) is one of the largest oil and gas exploration and production (E&P) companies in the world. The company focuses on the search for and production of oil and natural gas, with operations spread across more than a dozen countries.

ConocoPhillips benefits from large scale and access to some of the world’s lowest production cost oil resources, including significant exposure in the Permian Basin. With an average cost of around $40 per barrel, and many of its assets having even lower costs, the company is able to remain profitable in almost all oil market conditions and generate substantial cash flow.

Amid uncertainty regarding future oil demand, ConocoPhillips plans to return a significant portion of its free cash flow to investors in the coming years. The strategy involves consistently growing dividends, share buybacks, and variable cash payments from the company’s excess cash.

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Devon Energy

Devon Energy (DVN) is an exploration and production (E&P) company focused on the United States market. The company has diversified operations in a number of low-cost, resource-rich oil basins. This diversification allows Devon to produce large volumes of oil and natural gas in a cost-efficient manner, resulting in strong cash flows.

The company distributes up to 50% of its excess cash flow each quarter through variable dividends, after meeting its fixed base dividend and capital expenditure requirements. The remaining excess cash is used by Devon to strengthen its balance sheet and conduct share buybacks.

In February 2026, Devon became one of the largest oil and gas producers after reaching a $21.5 billion all-stock acquisition deal to buy Coterra Energy. Devon’s dividend strategy makes it an attractive option for income-oriented investors. Investors can earn stable and sustainable dividends throughout the oil price cycle, while having the opportunity to receive larger payouts when energy prices are at high levels.

Enbridge

Enbridge (ENB) operates one of the largest oil pipeline systems in the world. The company delivers about 30% of oil production in North America. In addition, Enbridge has an extensive natural gas pipeline network, a natural gas utility business, and operations in the renewable energy sector.

Enbridge’s pipeline operations generate stable cash flows, supported by long-term contracts and regulated tariffs. This gives the company the ability to maintain its position as one of the top high-yielding dividend stocks, while still investing in the development of its energy infrastructure.

In recent years, Enbridge has also made major investments in infrastructure that supports the transition to cleaner energy, including offshore wind energy in Europe and hydrogen. These investments put Enbridge in a position to better prepare for the future of the energy sector, while still playing an important role in sustaining the current needs of the oil market.

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Reference:

• The Motley Fool. Best Oil Stocks to Buy in 2026 and How to Invest in Them. Accessed on April 10, 2026