Last Friday, 174 exchange traded products hit all-time lows and nearly 15 of those funds were dedicated energy plays.
“Goldman, which has warned that the oil market might not re-balance unless prices fall to $20 a barrel, forcing production cuts among shale operators, said this remains a possibility. Still, the $20 scenario remains an outlier rather than their most-likely case, and would only be realized if oil storage space runs out. As that’s unlikely, the bank said it’s sticking with its forecast of $40 a barrel for the first half,” according to Bloomberg.
United States Oil Fund