There are several reasons to consider the ASX oil stocks before investing in them:

• Rising oil prices - Due to the skyrocketed demand from the global economy, oil prices are expected to stay elevated in the near term. As prices rise, oil shares tend to perform well.
• Prevailing demand - Even as the renewable energy sector sees potential growth, the world still heavily relies on fossil fuels. Gas production is expected to remain high, particularly in the northern hemisphere where winters usually drive up the need for natural gas.
• Economic activity - As global economies continue to grow, energy consumption increases, making oil and gas companies critical to economic development. The gas and oil sector drives key industries worldwide, leading to stable demand for energy products.
• High equipment needs - Energy equipment is the supplies that reduce the energy use or costs of a facility. Petroleum exporting countries and gas production companies are utilizing this virtue to gain more investments for other oil shares and gas produce.

In the evolving energy sector, companies are increasingly focusing on sustainable practices while maximizing traditional oil and gas production. For instance, advancements in carbon capture technology are helping reduce emissions from oil extraction and processing plants. Additionally, oil companies are investing in renewable sources to balance their portfolios.

However, conventional exploration still plays a crucial role, with discoveries like the Kingia Sandstone formation offering significant oil equivalent reserves. Efficient infrastructure, including pipelines, ensures the smooth transport of crude oil, while materials like asphalt that are derived from oil continue to be crucial in construction. Modern plant strategies integrate both conventional and renewable energy systems to optimize production.