In this article, we will explore the 9 Cheap Oil Stocks Under $10 to Buy Now.
The International Energy Agency, in its Oil Market Report for November 2025, concludes that oil markets are entering a turbulent phase. According to the report, global supply of oil has shot up by more than 6 million barrels per day since January. And yet demand growth is modest at under 800,000 barrels per day annually. This imbalance, the report states, has already pushed crude prices down to multi‑year lows. For instance, the North Sea Dated crude was trading near $62 per barrel, its weakest level in four years, at the time the report was published (November 13).
Interestingly, Goldman Sachs came to a similar conclusion less than a week later on November 17. According to the bank, the current oil supply surges will weigh on prices through 2026, but, and this is key, they expect a rebound later. They see long-term Brent/WTI trading up toward around $80/76 by late 2028.
But in the meantime, any downturn will create acquisition opportunities, says David Carter, industrials senior analyst at RSM. Carter wrote in a November 26, 2025, article that lower oil prices will catalyze a resumption in consolidation and “streamlining may accelerate if small-to-midsize producers or services companies face cash flow pressures, creating acquisition opportunities for companies with strong balance sheets.” He added that “companies that prepare to capitalize on distress or use it as a catalyst may emerge from a downturn in an even better position than they’re in today.”
Away from the M&A opportunities, Morningstar is of the opinion that regardless of the current dynamics in the energy market, equities in this sector have immense growth potential. Morningstar’s David Sekera wrote in the firm’s December 2025 Stock Market Outlook report that energy is tied as the second most undervalued sector at a 9% discount to fair value.
In other words, for investors willing to pick good-quality oil-related firms while sentiment is down, the coming months may offer an attractive buying window. This article drills into 9 such firms (all trading under $10) that may be poised to benefit from the eventual oil-price upcycle.
Our Methodology
To compile the list of the 9 Cheap Oil Stocks Under $10 to Buy Now, we used stock screeners and financial media sources such as CNBC, Bloomberg, and CNN to identify an initial pool of oil-related companies. We then narrowed the list to stocks trading below $10 with forward P/E ratios under 15. To further refine the selections, we reviewed institutional holdings using Q3 2025 13F filing data from Insider Monkey’s database. The final list is presented in ascending order based on the number of hedge funds that have stakes in them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Note: The stock price and forward P/E data are as of December 4, 2025.
Cheap Oil Stocks Under $10 to Buy Now
9. Kolibri Global Energy Inc. (NASDAQ:KGEI)
Forward P/E: 8.24
Stock Price: $4.09
Number of Hedge Fund Holders: 1
Kolibri Global Energy Inc. (NASDAQ:KGEI) is one of the cheap oil stocks under $10 to buy now. On November 25, Kolibri Global Energy Inc. (NASDAQ:KGEI) revealed that shareholders approved a resolution to cap the number of authorized common shares at 37,367,894. The approval followed a special meeting that was convened in response to a September 2025 requisition by TFG Asset Management UK LLP, a major shareholder.
In a different update, the company disclosed its Q3 2025 financial results on November 12, reporting $15 million in net revenues (net of royalties). The revenue is a 15% growth from Q3 2024 level, which management stated was due to a 40% production surge from new wells drilled and completed in the first nine months of 2025. This surge was, however, partially offset by an 18% drop in realized prices. The revenue figure missed forecasts of $15.62 million.
The quarter’s EPS came in at $0.10, down from $0.14 in the prior-year quarter and below the $0.12 consensus estimate. The reason for the miss was a $0.5 million unrealized loss on commodity contracts, as noted by management.
Kolibri Global Energy Inc. (NASDAQ:KGEI) is an independent oil and natural gas company. It develops and operates production assets in the United States, and its primary facilities include horizontal drilling and completion projects. Kolibri’s main products are crude oil and natural gas, generated through targeted exploration and development programs.
8. OMS Energy Technologies Inc. (NASDAQ:OMSE)
Forward P/E: 4.36
Stock Price: $4.80
Number of Hedge Fund Holders: 5
OMS Energy Technologies Inc. (NASDAQ:OMSE) is one of the cheap oil stocks under $10 to buy now. On November 26, OMS Energy Technologies Inc. (NASDAQ:OMSE) revealed that its wholly-owned subsidiary, PT OMS Oilfield Services (OMS Indonesia), secured API Spec 11D1 certification from the American Petroleum Institute. The API Spec 11D1 standard outlines requirements for designing, building, testing, and quality-checking packers and bridge plugs used in petroleum and natural gas wells. If certified, it means that a company’s packers and bridge plugs have been proven to withstand extreme pressures and conditions.
According to the announcement, this approval allows OMS Indonesia to fully design, qualify, and produce its own retrievable mechanical and hydraulic packers. This adds to its existing lineup of API-6A-certified surface wellheads and Christmas trees. And these packers can integrate with OMS’s own systems or third-party gear, which the company said will open doors to new contracts in well completion and intervention services.
Management further stated that this certification bolsters OMS Indonesia’s role as a regional leader by enabling in-house development of high-spec components. This milestone, the company noted, supports faster delivery, cost efficiencies, and compliance in Southeast Asia’s growing oilfield market.
OMS Energy Technologies Inc. (NASDAQ:OMSE) is an oilfield equipment and services company. It manufactures and sells specialty connectors, pipes, surface wellheads, and Christmas trees for drilling and production operations.
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