Investors should be careful of getting caught up in oil’s recent strength because the commodity is still in a bear market and expectations for a significant recovery are muted. Looking ahead, we may be in for low oil prices for much longer than many anticipated. The Organization of Petroleum Exporting Countries, or OPEC, projects oil prices will rise by no more than $5 per barrel per year and will eventually reach $80 per barrel by 2020 or $100 per barrel by 2030 to 2040, Reuters reports.
The aforementioned options against USO would only be profitable if the ETF fell far below $13, according to CNBC. USO closed at $14.59 yesterday.
United States Oil Fund
