OIL topped at $52…how low will it drop this fall?

Episode 198:

Link to free PermaEthosTV Q&A session:  https://vimeo.com/ondemand/petvpresentations/176546390?autoplay=1

Oil reach $52/barrel in June and collapsed to $39.50 last week.  Peak summer driving will soon come to an end; Canadian wildfires have burned out; Nigeria is stabling; OPEC isn’t cutting; and most importantly the US shale oil producers are lowering their costs.

Looking back to the oil glut of the late 1980s, prices took about a decade to stabilize and rise.  I assume we’ll see something similar during this oil correction.  Prices are likely to swing between $30-$50; with temporary extremes down to the $20s or up to the $70s.

Petrodollar article from April ’16:  http://www.investablewealth.com/its_still_all_about_oil/


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