Wrong Before, Gary Shilling Makes Very Bold Oil Prediction

Oil has been the talk of the investment world for about six months now, as prices have fallen nearly half since the summer of 2014.  Overwhelming supply and lagging demand seems to have caught up with the markets, as producers in the US and Middle East continue to pump oil with reluctance to cut output, in fear of losing market share.  Additionally, a strengthening US Dollar has put the squeeze on oil, further helping prices fall.  While oil has recently seen a relief rally, many widely see the recent rally as a “dead cat bounce”, meaning the selling will resume. …