VBIN's oil stock thread.

[EricL]

What a Difference a Year Makes (in Oil)

Quote:Exactly one year after West Texas Intermediate crude reached its historic -$37 per barrel low, the damage inflicted on global oil markets from the COVID-19 economic lockdowns has been largely repaired. Inventories have drawn down at the fastest rate on record and in a mere 12 months nearly all excess crude inventories have been eliminated. Prices for Brent and WTI recently topped $70 per barrel. Exploration and production equities (as measured by the XOP) have led the broad market higher, advancing 170% since the beginning of April 2020.

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