Look To Oil Service Stocks As Oil Prices Stabilize

As volatility returns to oil, analysts at Ned Davis Research Group have published a research presentation on the current state of the oil market and the course they believe oil prices will go up. According to the research group’s energy strategist Warren Pies, we have most likely passed the bottom of the most recent down cycle for oil as energy commodities run in multi-year mean reverting cycles, and we are currently at the bottom of the recent market trough. Oil prices: Time to buy?  Pies’ presentations starts off with several newspaper headline comparisons from prior down cycles. Each of the…