Gallery Furniture, a well known furniture store in Houston, has promised to refund customers at least $7,000 if oil jumps back up to $85 per barrel by the end of the year.
The store is offering a full refund for any purchase over $7,000 if West Texas Intermediate crude closes at or above $85 per barrel on December 31, 2015.
Electronics are excluded from the offer although special order fabric upholstered furniture and custom solid wood pieces are included.
Gallery Furniture owner Jim “Mattress Mack” McIngvale is known for his attention grabbing local advertisements.
Last year, McIngvale paid for $7 million in furniture after offering a refund on purchases over $6,000 if the Seattle Seahawks won the Super Bowl.
Earlier this week, Goldman Sachs analysts cut the bank’s three month Brent price forecast to $42 per barrel from $80 per barrel and dropped its U.S. West Texas Intermediate forecast to $41 per barrel from $70.
Explorers and producers have been slowing down on investments and ramping up hedging efforts as the industry braces for months of low prices.
Saudi Prince Alwaleed bin Talal told USA Today this week that he is “sure we’re never going to see” oil prices reach $100 per barrel again.