Last month, Goldman Sachs downwardly revised its WTI crude oil futures outlook to $75 per barrel for the first quarter and second half of 2015 from $90 per barrel previously. The bank also believes oil prices will be weakest in the second quarter of 2015, with WTI prices down to $70 per barrel and Brent crude futures to hover around $80 per barrel. [Oil ETFs Hampered by Bearish Outlook]

Not surprisingly, the rush to long oil ETFs has kept investors out of bearish equivalents. Since the start of the fourth quarter, the ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO) and the PowerShares DB Crude Oil Double Short ETN (NYSEArca: DTO) have lost a combined $150 million in assets despite being up an average of 32%. [Don’t Ignore These Leveraged ETFs]

The VelocityShares 3x Inverse Crude (NYSEArca: DWTI) is up 54.6% over the same period, but inflows to that fund are barely north of $1 million.

United States Oil Fund

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