Lower oil prices will be around for at least several more quarters and that means shares of U.S. oil producers will also continue to be hit, one market pro told CNBC Monday.
"While we're constructive on the group, within selected pockets, I think it's going to take a few more quarters to sort itself out," Eric Otto, research analyst at CLSA Americas, said in an interview with "Street Signs."
Oil is down almost 10 percent since OPEC decided not to cut production.
U.S. producers have been feeling the pain. Names like Oasis Petroleum fell 38 percent in November, Kodiak Oil, PDC Energy, and Whiting Petroleum were down 32 percent and Continental Resources was down 27 percent.