Why Marathon Oil Stock Plunged Nearly 55% in the First Half of 2020
Shares of Marathon Oil (NYSE: MRO) plummeted 54.9% during the first half of this year, according to data provided by S&P Global Market Intelligence. The main factor was the massive crash in crude oil prices as the COVID-19 pandemic crushed demand in an already oversupplied market. Oil prices began 2020 at around $60 a barrel, but cratered as demand plummeted after governments imposed restrictions on travel and nonessential businesses to slow the spread of COVID-19.
