suchislife - I don't mean to be snitchy, but if Europe faced an...

suchislife - I don't mean to be snitchy, but if Europe faced an oil price of 180 in the next couple of years, or for that matter Australia or the US, I think the resulting recessions would have share prices at historical lows for a long period thereafter (regardless of valuations). There are a huge amount of factors influencing oil prices at the moment, and OPEC has a target price of $100 - so best to estimate an average of +/-10% of that. They can after all turn the taps on and off when it suits.