Oil stocks have been one of the best risk-adjusted performing assets in 2021:
Oil stocks started their run in November 2020 after Pfizer Inc. (PFE) and Moderna Inc. (MRNA) released results of their COVID-19 vaccines. Since this meant COVID-19 related economic woes would abate, oil – the lifeblood of the global economy – went on an epic run.
In fact, oil prices are up over 100% since the announcement:
And if you’re someone without any oil stocks, Saudi Arabia just gave you a do-over.
The COVID-19 lockdowns were a key driver of this once-in-a-lifetime event. But the price action was made worse by a high influential group called the Organization of the Petroleum Exporting Countries (OPEC)...
Sorry, you need to login or sign up in order to vote. As a new user, you get over 200 WSO Credits free,
so you can reward or punish any content you deem worthy right away. See you on the other side!