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

Published Mon, Nov 15 20216:04 AM EST

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