As Sunni militants continue their offensive in western Iraq, the price of oil is surging, as the markets read the unstable situation as further evidence that Iraq will be unable to sustain its oil production levels of around 3.3 million barrels per day. The current flare-up in the Middle East has had the predictable knock-on effect on the shares of the major E&P companies, whose market values have all risen precipitously since Al Qaeda-breakaway group Islamic State of Iraq and Syria (ISIS) began swallowing up chunks of northern Iraq earlier this month.
As the world's attention stays focused on Iraq, here are five dividend-paying oil companies to keep an eye on in the weeks and months ahead: BP (NYSE: BP), Chevron (NYSE: CVX), ExxonMobil (NYSE: XOM), Occidental Petroleum (NYSE: OXY) and Enerplus (NYSE: ERF).
Source: Motley Fool
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