I'll be buying OOO ETF for as long as the oil price remains...

I'll be buying OOO ETF for as long as the oil price remains below $35.

Longer term, the sustainable mid-range for the oil price is around $45 to $70 per barrel. Supply will eventually come down a little, demand should grow consistently, and we'll see a rebound in price.

I have no idea when that will happen, but it's got to be in the next 24 months one would think.

Buying at below $12 for a potential doubling of your investment in 24 months ain't a bad move in my mind. There's no company risk involved either.