by Justin Spittler
The largest shale oil bankruptcy in years just happened.
If you own oil stocks, you’ll want to read today’s essay very closely. Because there’s a good chance hundreds more oil companies will go bankrupt soon.
As you probably know, the oil market is a disaster. The price of oil has plunged 75% since 2014. In February, oil hit its lowest level since 2003.
Oil crashed for a simple reason: There’s too much of it.