Editor's note: David Alton Clark is the No. 1-ranked financial blogger based on pick returns, according to TipRanks.com
Oil prices have dropped over 50 percent from a high of $94 in July of last year to approximately $42 recently. What's more, further downside may lie ahead due to a confluence of negative factors coming to fruition.
The U.S. dollar index is trading at eight-month highs, China's economy is seemingly in stall mode, Iranian oil production is waiting in the wings, U.S. production remains strong, and the Organization of the Petroleum Exporting Countries (OPEC) is expected to maintain its current market share strategy at its upcoming annual policy meeting. Nevertheless, I say now may be the time to buy Exxon Mobil.