Replies to post #12231 on The Rising Influence of Rising Affluence

[OakesCS]

While I agree that the bottom was probably the $26.xx/bbl, I don't think the market will recover until after there are some major bankruptcies and a resurgence in consumption in the US and China. The former will take place over the next 6-12 months and the latter could take longer. Those of us that picked the $45-55/bbl range by end of Dec 2016 may turn out to be correct but it will probably be a squeaker on the low side. So sayeth the magic 8 ball 8^)