RE:RE:Bear Market Bottoms -What to Expect Next?Please note:
"Here is how the S&P 500 has performed AFTER the bottom of every CYCLICAL bear market "
This is based on the S and P 500, and is not oil specific.
We all know that oil prices can be low while the S and P is very bullish at the same time.
Considering all this, the EXON CEO stated it will take 3 to 5 years to bring on enough new wells to satify the demand which grows every year. That includes under development in Saudi too.
Oil demand will keep gowing until it doesn't, there is no sign of it abating.
Asia too, still has a big and growing appetite.