RE:History repeating itself??1Lookout1 wrote: https://money.cnn.com/2008/12/17/markets/oil/
Exaclty, that was in December 2008. Oil was $40 OPEC was saying "the cartel hopes oil will stabilize between "$70 to $80 at least.""
And oil doubled in price in a year reaching $79 in December 2009, as per OPEC predictions. Reached almost $100 in December 2010.
Short term turbulence - focus on facts and avoid getting fooled selling at the lows. The markets are too focussed on the US productions which absolutely needs to increase to keep up with consumption. Most traders fail to understand the US consumes more than twice what it produces. It's a net deficit.
From a BTE perspective, it has the ability to sell assets. Listen to the last conference call. But they won't be selling at these lows unless they absolutely have to.