Hedge Funds

Carl Icahn: Oil hasn't hit bottom yet

Carl Icahn: Oil likely to go even lower now

With the oil market weighed down by oversupply woes, activist investor Carl Icahn said that he expects crude prices to slide further in the short-term.

"I do think that the oil actually will probably go lower," Icahn said on CNBC's "Fast Money." I think, though, it will give great opportunities in the future."

Icahn added that he expects global consumption to go up in a few years and offer solid investments opportunities, "especially in the service areas."

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The activist's company, Icahn Enterprises, has significant stake in a number of energy companies. Including Transocean Limited, which declined approximately 60 percent last year.