I think that oil prices have to undershoot (falling deep below) average price & production costs significantly to get rid of the oil flood (to clear the market).The hyperbole of the years 2010 through 2014 might create now a hyperbole in the opposite direction.
Thursday, December 10, 2015
Oil: The Dornbusch Effect
I think that oil prices have to undershoot (falling deep below) average price & production costs significantly to get rid of the oil flood (to clear the market).The hyperbole of the years 2010 through 2014 might create now a hyperbole in the opposite direction.
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