hi john - and I don't know where its going either, ignoring the current fluctuations, imo its still trending down .......
obviously OPEC want to finish off as many of the US shale oil producers as possible, but at some stage when the price of oil rises again then shale oil production will again become viable....$ 75.00 approx. is seems to be the concensus .....
so based on that figure and buying at the current price of 57c. gives you approx. 31% profit ?? when do we get it ?????
I guess the price at which shale oil can be sold at profitably over the longer term is the critical thing in the whole puzzle.......... bargain hunters at some point will begin to move in to take advantage of the price differential between current and likely future prices......
