OIL FALLS: Well Below $30 a Barrel, Causing Sharp Decline in the Global Market

Screen Shot 2016-01-15 at 9.36.11 AMIf you ever thought to buy stock in oil, now is the time to do it.

U.S. stocks are opening sharply lower, led by steep declines in energy companies as the price oil takes another tumble.

The price of oil sank below $30 Friday a barrel and is trading at the lowest level since 2003.

The sharp slump in crude from over $100 a barrel in the summer of 2014 has eviscerated energy company profits and made it much harder for them to pay off their debts.

Read more: abc13.com

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