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Why Oil Is Plunging (and 2 Ways to Profit)

Oil prices were already down 50% year to date on Friday. They plunged another 25% yesterday. Fears of the coronavirus spreading means that more people are staying home. And as fewer people travel, there's less demand for oil - which causes the price to fall. One way the leading oil-producing countries fight falling demand is by slowing production. If they're able to decrease the supply of oil as much as the demand for it, the price should stabilize. That's exactly why OPEC and Russia met last week. They planned to make the biggest oil production cut since 2008. Unfortunately, the two sides couldn't come to an agreement. Read more here... Tags: oil stocks To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Why Oil Is Plunging (and 2 Ways to Profit) appeared first on Money Morning - We Make Investing Profitable .
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