GREY:ROAOF - Post by User
Post by
gwrbion Dec 20, 2008 5:13pm
687 Views
Post# 15659781
Oil price is bottoming
Oil price is bottomingLets be real, if the oil price goes much lower, there will be no new drilling, production will halt, and voila - - a brand new oil shortage. Look for oil to rebound over the next few months to $50-$60, and another $100++ is coming next winter.
PS. Remember the good old days (like every other winter) when an early east coast snow storm and unusually cold weather forecast would drive up the price of oil 10%. Well here we are . . . but nothing is normal anymore.