Monday, January 25, 2016

Oil prices to be over $40 by end of 2016

Oil prices can go lower even from current levels but if they’re going lower toward $20 a barrel, I don’t think they can stay there. At that point there’ll be producers that cannot produce profitably and they’re going to cut back on production. By year end, it has to be above $40 because the fundamentals do not justify oil at $30.