It's alive!!!---with the seemingly turn in the price of oil recently which some have labelled a potential breakout from a reverse head & shoulders formation shown both in the Brent crude & WTI price of oil charts.
---if some traders believe in this technical indicator that would explain a change in the trading of a stock like WRG & others.
---but this may be a false first move. Josef Schachter on BNN expects/expected a sharp drop near the end of Oct. to Nov. sometime.
--- we will see how far this thing goes up & if it stays there if the price of oil falters or stalls.
---IMO we should not expect any steady rise in the price of oil from now on. Don't forget there will be a steady decline in the demand for oil (gasoline byproducts etc.) over time as the time of the internal combustion engine has passed. If there is to be driverless cars (& some in the auto industry it is coming faster than we think) they will have to be electric cars; so no need/less need going forward for oil to be made into gasoline/Nat.gas etc..
---that being said there will always be the need for well services.
carlos