On April 20, 2020, the seemingly unthinkable happened: Crude oil prices fell below zero. More accurately, the May 2020 WTI crude oil futures went negative, touching a low price of -$40.32 per barrel.Originally...
https://markets.businessinsider.com/news/commodities/oil-price-outlook-citi-70-demand-drops-recession-looms-brent-2022-6According to Citi's head of global commodity research, they're now a 1.4 million barrel/day decrease in demand, compared to their initial 2022 estimate (now 2.2 million expected, compared to 3.6 million), because of...
NOW:
BIDEN: "The idea we're going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term. Nor is it with regard to food." pic.twitter.com/PDLUx5emDR
—...
Exxon Mobil shares have returned almost 60% since the start of 2022
Tight supply/demand balance for oil products creates significant advantage for oil giant
Long-term investors could consider buying XOM stock at current levels.
Looking for...
