$2.32 then $2.25, page-7

i take it you are talking about the increase in production by opecc and coming out of western winter etc. maybe slow down in the economies.

however are you taking into account any disruptions and the acceptance of higher prices.

higher oil prices are here to stay and i would think $40 - $45 is likely and these companies are very profitable at these levels - remember OSH average oil price last year was $42usd.

I suspect there will be some consolidation in the sector over the coming year.