There isn't a question that oil will return to somewhere north of $85/barrel. It may take 6 months and it could be as long as 18 months, but happen it will. Many think we will potentially see $40/B or even lower before it starts back up. The Saudis will eventually slow production, once they have caused as much damage on the Fracking and Shale industry as they can muster... This is all in their interests, as well as putting extreme pressure on Iran, their mortal enemy.
When you feel like oil has reached its bottom, may I suggest that you take a very hard look at investing in UWTI shares. It is an ETF (exchange traded fund, bought and sold like common stock) that is based on the price of West Texas Crude. It is an almost sure bet for doubling your money and potentially a lot more, once oil starts back up. Do your own research and due diligence, but this is a gift to you all....and allows for mega Festool purchases down the road! Current share price of 3.75 at the Fri close. 52 week high was at 44 when oil was over 100.
Just saying.....
Cheers,
Frank
