The ‘Big 5’ of Aussie oil stocks-ranked

Financial journalist and commentator on 3AW and Sky Business
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In this Coronavirus crash, we’ve been bombarded by numbers we never thought we would see, but one of the most alarming was the “negative oil price” of April.

Lower oil prices have always been seen as a huge stimulant to the global economy – and would have been welcomed, normally, in a situation such as the worldwide economic downturn we face – but negative? That is beyond scary.

Many investors were prepared for lower oil prices – there was already chronic over-supply in the market before the Saudi Arabia-Russia pact to restrain production broke apart so spectacularly in March – but negative prices were definitely not expected.

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