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If oil prices fall, it will help to stimulate economic activity -- the profit outlook will be better and also lower oil would bring down costs, making stocks the better asset class.
Tony Crescenzi
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The companies stand to do some profit because the oil is already there. All they have to do is take it off the ground.
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I just hope that this sends a message, and that other oil companies will step and help also,
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There's not enough natural gas to substitute for heating oil. So this will help support crude oil prices. What we need is not (crude) oil but heating oil and natural gas. Unfortunately, there's no strategic reserves for them.
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