hi ya pleb..this is an interesting discussion.may be look at it...

hi ya pleb..

this is an interesting discussion.

may be look at it this way.

we know the oil price has dropped significantly in recent times.

we also know longterm oil price will continue climbing over the next decade and beyond.

so the short term price is a pain in the butt...

if you currently had a producing oil well, would you turn the tap back slightly so that you could conserve reserves..????

then when the oil price went back up, turn the tap back up....!!!!

i suppose if they were saving 5,000bopd.

5,000bopd X approx current price U.S$54bbl =U.S$270,000

5,000bopb X U.S$80bbl =U.S$400,000 (U.S$80bbl could easily be U.S$100bbl = U.S$500,000)

thats an extra U.S$130,000 per day in their pocket..

doesn't matter whom you speak with oil price will go higher you can bet on that, just like the sun will rise tomorrow.

the above is just pure speculation.

:))