My take is that there is a truly massive amount of US "unconventional" O&G, and the current glut is from their low-hanging fruit. But there isn't a huge amount of that (mainly the Bakken), and when it's gone then they get into the expensive stuff. So while we may have very cheap oil for a while, absent very significant technology increases it won't stay that cheap. No idea on timing, though.
SXY Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
