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HomeTrading NewsUBS upgrades Chevron to buy, says high oil prices are set to continue and boost stock

UBS upgrades Chevron to buy, says high oil prices are set to continue and boost stock

A sign is posted in front of a Chevron gas station on July 31, 2020 in Novato, California.

Justin Sullivan | Getty Images

The recent rise in oil prices, and the reluctance of oil companies to invest in more production, should be good news for Chevron, according to UBS.

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