Those fearing a total bust in the local economy can breathe a sigh of relief, that's coming from some experts.

According to the Midland Reporter-Telegram, experts are saying oil prices hit bottom back in February when the price was $26 a barrel and now oil is hovering around $45 a barrel.

Experts are saying oil could be back to $65 a barrel by year's end which is just over half of the peak price of $107 almost two years ago.