Looking to profit from oil-powered dividends? Look no further than this discounted payer dishing 9.6%.
Oil prices had plunged in recent months on recession fears. However, there’s still no recession. Oops. One point for the energy bulls.
Meanwhile, OPEC said enough “cheap” oil. On Sunday the cartel announced production cuts. Oil prices popped.
Will OPEC’s move prompt the Federal Reserve to raise rates even higher to cool demand for oil? I don’t think so because the Fed has a problem. It broke the banks! Higher rates could do more damage.
High oil is painful, but a banking crisis is worse. Given the choice between financial stability and controlling inflation, the Fed will choose…