Dr. Kent Moors- Money Morning - Only the News You Can Profit From.
Dr. Kent'S LATEST HEADLINES
- Oil 1 Wednesday, March 11, 2020We're in Uncharted Territory for Oil
The meeting in Vienna last week among OPEC members and their non-OPEC allies, OPEC plus, was intended to help nations reach an agreement on production cuts to extend past the current end date of April 1.
The concern is the spread of the coronavirus will drive down the price further as global economic demand slows. But Russia was not on board. And the Saudis' response to Russia's stance was to cut its price to Chinese customers, and plan to increase production by as much as 2 million barrels per day. That fallout then led to oil's massive 30% nosedive. And on Monday, oil's decline was literal fuel to the stock market fire, causing it to fall 7.79% in one day. Since Monday's losses, both oil and the stock market have recovered a bit. Oil is sitting at around $33 a barrel and stocks rallied at open.But unless there's a resolution, we will be retesting the market lows that we experienced in 2015 and 2016, when oil dipped below $30 per barrel and we'll see a ripple effect through the economy that's going to have a parallel impact to the COVID-19 problems we already have. Here's Kent with the details...
- Energy Tuesday, December 31, 2019The Easiest Way to Cash In on the Entire Energy Sector in 2020
- Oil Tuesday, December 17, 2019Why the Aramco IPO Doesn't Impress Me… Yet
- Oil Tuesday, September 17, 2019What Every Investor Needs to Know About the Saudi Arabian Oil Attacks
- oil prices Monday, September 16, 2019How I Predicted the Attack on Saudi Arabia's Oil Infrastructure
- China Monday, August 5, 2019We Could Be Looking at War in the South China Sea
- Oil Wednesday, June 19, 2019What Every Investor Needs to Know About the Gulf of Oman Oil Tanker Attacks
- Oil Thursday, May 30, 2019Oil Prices Should Be Going Up – Here's Why They're Not
- Oil Thursday, April 4, 2019What You Need to Know About the Oil Price Comeback
- Global Markets Saturday, February 9, 2019While Trump and Putin Kick Off "Cold War 2.0," This Stock Will Soar