The demand for oil has slumped in recent months and prices has fallen again amid fears that a second wave of COVID-19 could once again halt economic activity. With oil moving higher in recent weeks, some producers had begun to open the taps, which could send prices even lower. Energy companies are already dealing with significant oil supplies and hardly any demand, even as economies re-open.
Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunities in the oil and gas, mining, alternative energy, agriculture, forestry and water industries.