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. Given all the turbulence in the oil market, it's no surprise that oil stocks struggled, with the average one in the S&P Oil & Gas E&P ETF losing nearly 40% of its value.
However, we'll soon turn the page on a year that many can't wait to forget. With each new year bringing a fresh dose of optimism, here's a look at whether oil stocks can rebound from their rough patch in 2021.
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Source Fool.com
