Can Oil Stocks Bounce Back in 2021
There's no way to sugar coat things; 2020 was an abysmal year for the oil market. Crude oil prices are on track to decline more than 20% on the year, though that doesn't even begin to tell the story considering that oil prices crashed into negative territory at one point in the year. The biggest weight on the oil market in 2020 was demand, which fell off a cliff because of the COVID-19 outbreak.