Energy: OPEC Cuts Oil Production, Saudis Go Shopping, Recession Resistant Stocks, & More
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 9 April 2020
⏱️ 34 minutes
🧾️ Download transcript
Summary
fter a meeting this morning, OPEC, along with Russia and other partners, announced plans to cut 10 million barrels of oil production per day. Jason Hall joins the show to break down what it means for the energy industry. In addition, we discuss Saudi Arabia’s recent investments in European oil companies, Warren Buffett selling airline stocks, and answer listener questions about Brookfield Infrastructure Partners’ recent spinoff of Brookfield Infrastructure Corporation.
Stocks Mentioned: OXY, CLR, AR, TOT, RDS-A, RDS-B, E, EQNR, BIP, BIPC, BEP, BAM, NEP, NEE, BR, MA, MASI
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Transcript
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| 0:00.0 | Welcome to Industry Focus. The podcast that dives into a different sector of the stock market each day. |
| 0:11.5 | I'm your host Emily Flippin. I'm Jason Moser. I'm Nick Saiple. I'm Dylan Lewis. And today we're talking financials. Today we're talking consumer goods. |
| 0:20.0 | Wild-C |
| 0:18.0 | Wednesday. And we're talking energy. And today we're talking tech. Let's dive in. |
| 0:28.0 | Welcome industry focus. I'm Nick Saipel. It's Thursday and we are talking energy. |
| 0:32.0 | I guess today is Jason Hall. Big news. It's Thursday and we are talking energy. |
| 0:32.8 | I guess today is Jason Hall. |
| 0:34.4 | Big news this morning, we talked about last week, |
| 0:37.7 | President Trump tweeted about some rumors |
| 0:39.9 | that the Saudis and Russia could be cutting oil production well today. |
| 0:44.0 | We got some official news on that after an OPEC plus meeting this morning, |
| 0:48.0 | which I think still may be ongoing with reports suggesting that there is an agreement to cut 10 million barrels per day of oil. |
| 0:54.8 | Jason just high level. |
| 0:56.5 | What are your thoughts on this news so far? |
| 0:59.1 | Depends on where you start, where you're counting how much oil is actually being cut, right? |
| 1:04.1 | So it's a good sign and I think it was kind of inevitable. |
| 1:08.7 | We were going to see some cuts. |
| 1:11.0 | Tomorrow, I think we've got the G20 energy ministers are talking so this is going to be |
| 1:16.3 | ongoing for a little bit but I think the big thing that investors need to take away |
| 1:20.4 | from this is the market's still going to be just massively |
| 1:25.1 | massively oversupplied and it's it's going to be months and months of |
| 1:30.1 | oversupply I mean these 10 million barrel cut, I don't know, I think we figure that's what, |
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