Crude price, page-18

But SL, how long will it last - spike over $60 and then that sinking feeling coming back? Love the strength that this puts back into the E&P share prices .... but I'm still in the camp of "lower for longer". I would not be upset with a volatile oil price Qtr - especially if it retests that bottom of around $42 (and holds it). That would likely put the Qtrly avg in the low $50s and a steady price recovery.

Worst thing in my opinion would be a rapid rise in oil price back to $70 - the cowboys would once again be drilling & pumping like crazy - (banks permitting). A few more projects cancelled & deferred by big oil, a little more shale contraction and there will be a nice even recovery (in the years) ahead. Its a long game being played IMO.