The 1 Oil Stock I’ve Bought in the Coronavirus Crash

As tough as the past month and a half has been for all investors, anyone who's invested in oil and gas stocks has experienced an absolutely brutal ride. The writing was on the wall in early February, when the International Energy Agency said it was expecting to see global oil demand fall in the first quarter. 

Since then, everything has gotten worse. The coronavirus that was hitting China so hard at the time -- the reason the IEA said global demand would fall -- is ravaging the world. Global commerce and travel has been ground to a halt. Many countries have issued stay-at-home orders, and millions of businesses are closed as a result. It could be many months before the global economy opens back up for business, and global oil demand could fall by as much as Russia and Saudi Arabia's entire daily production over that period. 

Image source: Getty Images.

Continue reading

Source: Motley Fool
(April 5, 2020 - 6:30 AM EDT)

News by QuoteMedia

www.quotemedia.com