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Why this Oil-Price Bust will Drag Out a Lot Longer than the US Oil Industry Claims

Chris Temple 0

(Nov. 15, 2016 -- by Wolf Richter) -- Here the economist/blogger Wolf Richter goes into studious detail to explain why any forecasts of prices for crude oil higher than their recent peak in the low-$50's per barrel must be viewed with skepticism.

As I explained in our podcast of this same day -- at http://www.kereport.com/2016/11/15/true-reversal-oil-gold/ -- the worst case scenario for a PLUNGE once more in oil has been mitigated.  None the less, investment decisions in this sector need to be made in a sober fashion, and with the understanding that "lower for longer" might be the lot of crude oil's price for some time to come.

Wolf's piece -- http://wolfstreet.com/2016/11/15/why-this-oil-price-bust-will-drag-out-a-lot-longer-than-the-us-oil-industry-claims/

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