Coopec, lets say your man Slim Pickens is right & US production starts pulling back in a month or so, say to 2013 levels i.e down 1M bpd.
What's to stop OPEC or others just lifting their production to fill that gap?
They have the capacity & if there really is a thought that oil's days are numbered then why wouldn't you just take up the market share if you can.
I'm not saying they necessarily will, but its certainly a possibility that no one seems to be considering let alone pricing.
POO is AUD$70, page-48
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