E&P Bankruptcies Will Push Oil Higher

Oil will not stay below $30 a barrel over the long run, but it is the reality the market has to deal with right now, said Robin Wehbe, managing director of The Boston Company Asset Management. 'No matter how terrible demand gets - and it’s not very good right now - eventually this market will correct itself,' said Wehbe. Wehbe co-manages the $141 million Dreyfus Natural Resources Fund (DNLAX), which has dropped 7.5% so far in 2016, according to fund tracker Morningstar. The fund is down an average of 9.3% annually over the past three years, outpacing 73% of its peers in Morningstar’s natural resources fund category.