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Dec 05 1983

What About the Oils Now?

  • Dec 5, 1983

The last of the tactical “Oil Patch Recovery” play initiated in early 1983 has been closed out. What now? We expect oil stocks to be underperformers for at least six months. $25 crude prices would not be a surprise in 1984. And on a long-term basis, we still expect oil prices to erratically decline in real dollars for the rest of the century.

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