ap8889 wrote:http://www.artberman.com/oil-prices-are-at-least-7-per-barrel-too-high/
I wouldn't be grateful for Fools opinions. I am contemplating selling my oil shares and putting the money elsewhere until this inventory overhang shows signs of reducing. Art seems to think the POO is more likely to drift lower in the coming year at least. His guessing track-record is better than mine when it comes to these things.
You may not be grateful, but I will give my opinion anyway. The previous low oil price period lasted from 1986 to 2000 or 2004 (depending on whether you look at nominal or real prices), which gives a duration of 14 - 19 years. Why should this downturn be different?