NEW YORK - Investors are in for more bad news on the energy front in the coming weeks as a host of the sector’s biggest companies report quarterly results following the historic collapse in oil prices.
Down a whopping 46% since Dec. 31, energy is by far the S&P 500’s worst-performing sector this year. For many Wall Street strategists, it has become a sector that is hard to recommend. Oil prices have sold off amid concerns about rapidly filling storage space at the key Cushing, Oklahoma, delivery point, as demand collapses with the shutdown of businesses as U.S. states try to contain the coronavirus outbreak.
“Probably the dividends are going to be one of the last places they look to conserve cash,” Samana said.
Source: News Formal (newsformal.com)
exxonmobil is not a friend of small business. Let them bail themselves out. They shouldn’t need a government bailout.
Guess it's high time to nationalize that failing industry.
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