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The price of oil keeps rising, and the stocks of oil companies with it. Now, some analysts think the strategy of how to play the rebound is changing, too.
For much of the past two years, investors and analysts have been focused on which oil companies can keep their costs down and send more of their profits back to investors as dividends and share buybacks. That’s led to more companies reducing their drilling budgets, paying off debts and slowing down plans to explore for new oil deposits.