Oil On A Free Fall: Is It As Bad As It Gets?

Disclosure: I own shares of XOM Oil is in free fall, following OPEC’s decision to leave output unchanged last Friday. In early Monday afternoon trade, Brent crude (January) was trading close to $40-mark (down 5% from Friday’s closing), WTI crude was trading below $38 (down 5.50%). That’s near a seven year low. Oil and gas stocks followed suit.