Tuesday, December 29, 2015

Marc Faber on oil prices and market value

It [oil] can go down to lower levels for a brief period of time. We were at $147 in July 2008, and by December 2008, we dropped to $32. And then we rebounded from it. Markets are volatile; anything can happen. But from a demand/supply point of view, the equilibrium price is probably between $40 and $60.