/biz/ - Business & Finance

>>17977254
No. During price war oil's price will swing around wildly as developments occur. It's the lifeblood of industry and there are a lot of countries fighting over the price of the stuff, everybody trying to scrape out some kind of an edge. Currently there is risk of a large oversupply (bad for price) but that is only because of the measures being taken to reduce/eliminate the spread of covid19. This oversupply can quickly become an undersupply when covid19 tapers off and industry ramps back up in an attempt to make up for lost time. Also, when oil price is kicking around the level where every producing country on the planet is uncomfortable, things can... happen. If oil drops below $20 and stays there for any length of time, the fight will move from boardrooms and conference calls to air strikes and invasions.

So what do if you want to take advantage of all this? Set buy orders at oil's low range and potential low pivot; be that $20, $17, if you're really thinking this is going to get terrible $10 and $5.

BUY BUY BUY BUY BUUUUUUUYYYYYYYY