Former Shell CEO and current oil market commentator John Hofmeister thinks that the 50% decline in oil prices in response to a market that is 1% oversupplied is way overdone.
He believes that oil will turn around and head higher in pretty short order because of how quickly the US energy producers are reacting by laying down rigs.
Hofmeister thinks the pundits who are suggesting that we will never see $100 per barrel oil again are greatly mistaken.
Become a Premium Member to See This: (Free Trial):
