Yes sharp drops lead to sharp rises, but these low prices are forcing shale to cut costs, this supply will be be leaner so while some supply will be cut as soon as prices warrant it will be back on, limiting some of the upside. Barring political events will we see $100 again i dont know. But the Saudi's are resetting the oil price lower for longer with this method and doing themselves long term damage by forcing efficiency on the US oilers.
Oil recoil - J Curve, page-2
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