RE:RE:RE:RE:TD Maintains ALB Rating and $7.00 TargetYep we are waiting for a bottom since 1 year now....and we are still trading in the low.
In 2008 oil price collapsed in few months to $40 by christmas 2008 then 4 months after it was allready trading over $70. It was a V shape recovery. Very quick one.
In 2014 oil price collapsed in few months to $40 by christmas of 2014 then it never bounced back up. We are still trading in the low $40. This time its very different situation compare to 2008.
Today CEO of oil company TOTAL says he doesn't expect oil price trading over $60 from now to the end of next year because of too much production coming over the next few months flowding the oil market.
We might have to get used to $40 oil price environment over the next 2-3 years.
10 months ago braincloud told us we will have a V shape recovery like in 2008. I am sorry but I don't see it......