RE:Crooks at Goldman Sachs buying lots of sharesDon't be so hard on them. They are easy to read. Just understand, they are there to make money for their clients not the general public. They shorted oil and are covering everywhere, not just Baytex.
You can bet that if I was paying them, I'd want the info before it's widely known. They predicted we would get $20ish oil and we did. The research wasn't bad actually.
They underestimated the financial hardship which was felt much sooner than they anticipated. So not, they aren't perfect. Nobody is.
They also commented history was repeating itself and at this point in the cycle we'll be in the $40s in no time. The graph between 1976-1989 and 2005-2018 are identical except for the bankster induced meltdown in 2007.
We won't go past $50 in my views but you can never predict the market too far ahead of time because dynamics change. A vicious war in the middle east could send oil to impressive highs really, really fast. Note that none of that risk is currently priced in to sub $50 oil?
What we have today that's concrete are the producers taking insane oil prices seriously because of the huge worldwide impact this had. Freeze is in progress and cutbacks might even happen if recovery doesn't from this point.
