Oil Downturn becoming an Upturn?

[Pat Babaz]

Originally Posted by I make oil

All indicators point towards it and I honestly think we are on the beginning of the upturn. I see lots of undervalued stocks from good company's that weathered this downturn well. As prices increase over the rest of the year and into next year I think there will be a huge rush to complete wells previously drilled and not completed followed by an increase in drilling late next year. Right now is THE time to invest in company's like Halliburton, Schlumberger and other service providers. I think I'm going to divest all of my other holding and invest in this part of the industry as well as a few undervalued oil company stocks. Any opinions?

I'm concerned that if the deal with Iran goes through oil prices will be badly hurt. I've heard they have a lot of oil ready to dump onto the world markets. Couple that with the Saudis wide open spigots designed to discourage our fracking efforts out west and I don't know if we've seen the bottom yet. I REALLY REALLY hope I am wrong though and would love for your scenario to be right.