By now, you know Russia attacked Ukraine.

“In announcing a major military operation, Russian President Vladimir Putin deflected global condemnation and cascading new sanctions — and chillingly referred to his country’s nuclear arsenal as he threatened any foreign country attempting to interfere with ‘consequences you have never seen,’” noted Reuters.

Meanwhile, NATO plans to reinforce its presence on its eastern front following the invasion.

In addition, the U.S. and Europe have promised tough sanctions on Russia in response, which could result in oil supply outages.

“Russia is the third-largest oil producer and second-largest oil exporter. Given low inventories and dwindling spare capacity, the oil market cannot afford large supply disruptions,” UBS analyst Giovanni Staunovo said, as quoted by Reuters.

As a result, crude oil rallied to $105, and could see $120, even $150 a barrel.

It’s why we still like dividend-paying oil stocks, including:

Exxon Mobil (XOM), which carries a dividend yield of 4.56%.  In addition, the company declared a cash dividend of $0.88 per share, payable on March 10, 2022 to shareholders of record at the close of business on February 10.  XOM also just initiated a $10 billion share buyback program.

Valero Energy (VLO) carries a dividend yield of 4.52%.  The company just declared a regular quarterly cash dividend on common stock of $0.98 per share. The dividend is payable on March 3, 2022 to holders of record at the close of business on February 3, 2022.

Phillips 66 (PSX) carries a dividend yield of 4.32%.  The company just declared a quarterly dividend of 92 cents per share, payable on March 1, 2022, to shareholders of record as of the close of business on Feb. 22, 2022.