Hey Buc, thought you must have had a bad hangover or something to miss that one....
Don't have a crystal ball - although Claudio must be short on headlines (that or thin air at Davos left him short of oxygen).
Who knows what the price is - but that is not important. What is important is how profitable are companies going to be with oil at $40, $45, $50, $55,....
Which companies are going to be around when all the underinvestment results in overshooting the supply curve on the downside, and assuming demand growth ACCELERATES (because while it is growing in absolute terms the growth is decelerating) a spike occurs like Claudio envisages.
Who knows what US$100 or $200 means relatively speaking. The strength in the dollar is as much a culprit as any of the theories.
SSN Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
