ecneitap,
I know they have been wrong before, but as regards the future price of oil I am inclined to take the BHP view as per a February 28 2017 report below. ( If OTTO's cost of discovery remains even remotely close to $2.11 per bbl 2p reserves, for future drilling discoveries , then I would expect OTTO to start paying dividends even with us$40 oil.)
Low oil prices set to recede, BHP warns, amid sluggish output gains
"We project that liquids demand will outpace supply later this year and then global inventory levels will normalise," Michael Hovers, the group's marketing petroleum vice-president said. "Looking ahead to the 2020s, we see compelling market fundamentals.
"Global demand for liquids is expected to rise by around 1 per cent per annum over the next decade."
POO, page-14
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