Contrarian plays can often pay off for investors that are willing to weather some short-term volatility. The oil industry has experienced pain for over a year now which began late in the summer of last year as oil prices fell to lows that hadn't been seen in a decade. This weakness has created some value opportunities, though, with oil stocks now trading at discounted prices.
Global growth concerns have weighed heavily on energy demands while a supply glut has kept oil low. However, oil may be facing a bullish cycle over the next quarter with more upside to come for 2016. Demand is growing again and oil supply for next year is estimated to be tighter than previously expected. Since August, oil prices have traded in the $45 to $50 range indicating that it has finally settled and reached a bottom. Continue reading "Ride The Oil Recovery With This Driller"
