The International Energy Agency’s (IEA) recent monthly Oil Market Report projected that crude oil demand will fall by 194,000 barrels per day in 2011, so it appears that consumers are changing their driving habits.  For 2011, the IEA is now forecasting that crude oil demand will decline by 230,000 barrels per day in developed countries, though predicted a rise in the developing world.  In short, no doubt that consumer spending patterns are clearly changing as the prices at the pump rise. As a result, I suspect that the fact the crude oil prices maybe stabilizing near-term.

This could mean that oil stocks will lose momentum in the weeks and months ahead — or at least that the energy industry will become more selective. If you own crude oil stocks or other energy investments, now would be a good time to take a hard look at your holdings and consider what should stay and what should go.

Here are my recommendations for stocks that should go via these 7 blue chip energy stocks to sell immediately.

Petrobras Petroleo Brasileiro: The first energy stock worth selling is Petrobras Petroleo Brasileiro (NYSE: PBR) which is down -11% year-to-date and -11% in the last 12 months as well. Looking in the shorter term, PBR stock has lost -11% in the last 30 days as well. PBR stock often fights back, but this long-term track record shows that it has a lot of trouble staying on top. Sell this stock as it approaches its 52-week low of $31.21.

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BP PLC: Most famous for last summer’s Gulf Coast oil spill, BP PLC (NYSE: BP) has watched its stock value decrease -4% year-to-date. Looking further back, BP stock has declined -9% in the last 12 months. For the fiscal year 2010, BP also posted a net profit margin of -1%, which scared away potential investors. Steer clear of this energy stock as crude oil prices soften further.

Canadian Natural Resources: In the last month, shares of Canadian Natural Resources (NYSE: CNQ) have lost -11%. In the last three months, shares of CNQ have dropped nearly -14% as well. Most importantly, analysts are projecting earnings of just 48 cents per share, compared to 63 cents last year. That’s not a positive development, and will only worse as energy demand weakens.

EOG Resources Inc: Natural gas and crude oil developer EOG Resources Inc. (NYSE: EOG) has watched its stock value drop -6%, after a strong start to 2011. Sell this overweight stock immediately.

EnCana Corp: Natural gas producer EnCana Corp. (NYSE: ECA) has also lost -2% in the last month after a few months of gains. Looking at ECA’s last income statement, the energy stock posted a quarterly revenue growth of -53% and a quarterly earnings growth of -95%, year-over-year. Not a good sign.

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Nexen Inc: Canada-based global energy company Nexen Inc. (NYSE: NXY) has had a rough go of it lately, dropping -4% in the last month and -9% in the last three months. Experts are also predicting a four cent drop in earnings this quarter compared with last year. It’s time to give up on this large cap energy stock.

Cameco Corp: Uranium producer Cameco Corp. (NYSE: CCJ) has been the biggest loser on the list and should be sold immediately. Year-to-date, CCJ stock has fallen 34%, compared to a gain of 8% for the Dow Jones Industrial Average. A quarterly earnings growth of -36% isn’t encouraging to investors either. In the wake of the Japan crisis, the future of nuclear energy is in question and thus uranium demand is uncertain. Don’t hang on to this stock to find out how the chips will fall.

As of this writing, Louis Navellier did not own a position in any of the stocks named here.