Oil price closed today below $94 a barrel after reaching a record high of $147 in July this year. The fall in the price of crude oil has been attributed to lower demand worldwide especially in emerging markets like India,China,etc.

When oil price reached the peak in July, oil stocks did not go up very high in sync.Similarly oil stocks have not fallen as much as the price of oil has in the past few months.This is because many folks consider them to be cyclical stocks. Whether oil prices go up or down in the future, I believe that oil is an important commodity needed by the majority of the world. Hence oil stocks can be a good addition to a diversified portfolio.

Outside of US,there are many oil firms such as EcoPetrol(Colombia), Petronas(Malaysia) or Petrobras(Brazil) that are worth looking into. The following is a list of some of the foreign oil stocks trading as ADRs in the US:

1.Company Name: BP Plc (BP)
Country: UK
Dividend Yield: 6.84%
Year-To-Date change: -35.71%

2.Company Name: Total S.A (TOT)
Country: France
Dividend Yield: 5.43%
Year-To-Date change: -31.63%

3.Company Name: PetroChina (PTR)
Country: China
Dividend Yield: 3.99%
Year-To-Date change: -43.79 %

4.Company Name: Sasol (SSL)
Country: South Africa
Dividend Yield: 5.95%
Year-To-Date change: -26.88 %

5.Company Name: Petrobras (PBR)
Country: Brazil
Dividend Yield: 0.08%
Year-To-Date change: -33.91 %

6.Company Name: Petrobras Energia (PZE)
Country: Argentina
Dividend Yield: 3.93%
Year-To-Date change: -30.25 %

7.Company Name: Statoilhydro ASA (STO)
Country: Norway
Dividend Yield: 3.74%
Year-To-Date change: -32.83 %

8.Company Name: Repsol YPF (REP)
Country: Spain
Dividend Yield: 5.52%
Year-To-Date change: -24.05 %

9.Company Name: Eni Spa (E)
Country: Italy
Dividend Yield: 7.39%
Year-To-Date change: -31.92 %

10.Company Name: EcoPetrol (EC)
Country: Colombia
Dividend Yield: N/A
Year-To-Date change: N/A

11.Company Name: Royal Dutch Shell – A Shares (RDS.A)
Country: UK
Dividend Yield: 5.04%
Year-To-Date change: -34.38 %

12.Company Name: Royal Dutch Shell – B Shares (RDS.B)
Country: UK
Dividend Yield: 5.92%
Year-To-Date change: -34.93 %

13.Company Name: Gazprom (OGZPY)
Country: Russia
Dividend Yield: N/A
Year-To-Date change: -50.05 %

14.Company Name: Lukoil (LUKOY)
Country: Russia
Dividend Yield: 0.90%
Year-To-Date change: -35.92%

15.Company Name: MOL Magyar Olaj-ES Gazipari (MGYOY)
Country: Hungary
Dividend Yield: 4.91%
Year-To-Date change: -40.01%

Disclosure: Long PBR

Note: All data used is considered to be accurate as of October 2, 2008. Do your own research before making any investment decision.