Crude oil and energy stocks: A comprehensive investment guide for 2025

When it comes to long-term asset investments, some assets are often overlooked but have the potential to generate continuous income, especially crude oil, which plays a vital role in the global economy. Understanding the industry structure, growth rates, and factors influencing price changes will help investors make systematic decisions.

Industry Segmentation: From Source to Consumer

Investing in oil stocks requires understanding the cyclical phases of the industry, which are divided into three main stages:

Upstream: Exploration and Production of Energy Sources

Companies in this segment explore oil and natural gas fields, both offshore and onshore, in regions with complex geography. The main responsibilities include crude oil production and transmission to refineries. Two key factors affecting company performance during this phase are crude oil prices and currency exchange rate fluctuations. Leading companies include ExxonMobil (XOM), Chevron (CVX), ConocoPhillips (COP), EOG Resources (EOG), and Occidental Petroleum (OXY).

Midstream: Refining and Processing into Products

Companies in this sector receive crude oil to refine into various fuels such as gasoline, diesel, lubricants, and petrochemical products. Refinery efficiency and inventory management between refineries and markets are critical variables affecting profits. Notable companies include Enterprise Products Partners (EPD), Kinder Morgan (KMI), Williams Companies (WMB), Enbridge (ENB), and Magellan Midstream Partners (MMP).

Downstream: Distribution and Consumer Services

This segment handles finished products from refineries and distributes through a network of service stations. Managing marketing efficiency and service area utilization are main challenges. Leading market players include Phillips 66 (PSX), Valero Energy Corporation (VLO), Marathon Petroleum Corporation (MPC), Royal Dutch Shell (RDS-A), and TotalEnergies (TTE).

Major Oil Companies: Leading Five Countries

Thai Representation: Local Energy Participation

PTT Public Company Limited (

PTT is Thailand’s national energy company since 1978, covering the entire cycle from exploration, production, refining, to distribution. It has a market value of approximately 906.9 billion baht, priced at 31.75 baht per share. Analysts forecast that in 2025, the price could rise to 43.00 baht or fall to 29.50 baht depending on economic conditions and energy policies.

PTT Global Chemical Public Company Limited )

PTTGC operates in petrochemicals and chemicals, leading in environmentally friendly product development. Currently, it has a market value of 109 billion baht, priced at 24.30 baht per share. Forecasted range for this year is 21.00 - 39.00 baht.

Thai Oil Public Company Limited (

Thai Oil, a leading Thai oil refinery since 1961, has a market value of 62 billion baht, priced at 28.00 baht per share. Expected range is 21.00 - 70.00 baht.

Bangchak Corporation Public Company Limited )

Bangchak was founded in 1979, operating oil refining and distribution through a network of stations. It has a market value of 48 billion baht, priced at 35.25 baht per share. Forecasted range is 32.00 - 62.00 baht.

PTG Energy Public Company Limited (

PTG Energy focuses on renewable energy, with a market value of 13.861 billion baht, priced at 8.30 baht per share. Expected range is 6.80 - 11.00 baht.

) Universal Representatives: Global Leaders

Saudi Aramco from Saudi Arabia

Saudi Aramco produces 12 million barrels per day, with a market value of $1.803 trillion. Its stock price is $28.00 per share, with an estimated range of $26.50 - $37.00 per share in 2025.

ExxonMobil Corporation (XOM)

A comprehensive company operating across multiple regions, with a market value of $467.98 billion. Stock price is $106.48, with a forecast of $105.00 - $147.00.

Chevron Corporation (CVX)

Chevron’s market value is $256.74 billion, trading at $144.00 per share. Estimated range is $154.00 - $197.00.

PetroChina Co. Ltd.

A Chinese company with a market value of $214.04 billion, trading at $0.78 per share. Forecast range is $0.45 - $1.27.

Royal Dutch Shell ###RDS-A(

Shell has a market value of $187.44 billion, trading at $61.69 per share. Estimated range is $53.63 - $67.82.

Investment Options in Oil Stocks: Choices for Different Investors

) Oil-Focused Funds

This main type of fund invests through futures contracts of global crude oil, mainly referencing WTI, to closely mirror oil price movements. Although not 100% precise, it is a direct option for those wanting to track oil prices.

( ETF) in the Energy Sector

For investors already in the Thai stock market, energy ETFs are convenient options. Currently, there are two funds available: ENGY and ENY, which can be traded like regular stocks.

( Individual Stocks in the Energy Sector

Investors can choose to invest in individual stocks instead of the entire process by selecting stocks that match their strategy and risk tolerance.

) CFD### via International Brokers

CFDs are increasingly popular, with advantages such as:

🔸 Easy registration via website or app

🔸 Lower capital requirement due to broker leverage

🔸 Ability to trade both ways—Buy and Sell—according to market conditions

Factors Influencing Oil Price Changes: Key Variables to Watch

Global Economic Growth

As the economy expands, oil demand increases accordingly. Conversely, during economic slowdown, oil demand decreases. This relationship is closely linked to crude oil price fluctuations.

( Production Levels and Refinery Capacity

If producers cannot supply enough oil to meet demand, prices will rise. Conversely, oversupply will push prices down. Major producers like OPEC, Russia, the US, and China significantly influence price directions.

) Seasons and Weather Conditions

Winter in Europe and the US often coincides with increased demand for heating oil ###Heating Oil###, leading to higher prices.

( Political and Geopolitical Instability

Conflicts in the Middle East and North Africa, key oil-producing regions, impact production and transportation levels.

) Currency Exchange Rates

Since oil is traded in US dollars, fluctuations in exchange rates affect import costs in other countries.

Insights for Investors: Benefits and Risks

Benefits of Investing in Oil Stocks

Long-term stability Although oil prices are volatile in the short term, the oil market tends to be stable over the long term.

Sustainable Industry Oil is used across many industries, ensuring continued demand.

High Profit Margins Many large oil companies enjoy attractive profit margins.

Dividends ###Dividend### Many companies pay dividends to shareholders when profitable.

Risk Hedging Oil stocks are often viewed as safe investment assets.

Conclusion: Navigating the Oil Market in 2025

Investing in crude oil and energy stocks offers diverse options, from individual stocks and ETFs to CFDs. Understanding each format and the factors driving prices will help investors make wise decisions. Companies like PTT, ExxonMobil, Chevron, Shell, and PetroChina are prominent representatives of this industry.

Studying and understanding the business nature of each oil stock, along with global economic conditions, will be key to building a balanced portfolio. Done correctly, crude oil and energy stocks can be vital components of a successful long-term investment strategy.