Beach Energy Ltd

BPT: XASX (AUS)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
A$4.70XwfmWgrmscdc

Oil Is Down Due to Saudis, Not Fundamentals, and Will Recover; Value on Offer Across the Board

The failure of the OPEC coalition to reach agreement on production cuts on March 6 has sent oil prices into a tailspin, with Brent crude dropping into the low USD 30s in early trading before landing in the mid USD 30s. That's the biggest single-day loss in almost 20 years, essentially wiping out all gains since the 2016 low.

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