poo is flying now!, page-17

"With the POO collapse last year major oil producers have scaled back production. Due to the credit crunch, virtually all oil exploration activities have ceased. Once this global stimulus takes hold infrastructure projects will very quickly see the inventories depleted. As the supply side has been hammered etc the production cannot be flicked back on overnight, causing oil spikes."

xarmsy - some things i want to highlight.
opec & small producers cut back output, the majors just kept going.
the credit crunch only affected the govt owned & small oilers - $100+ oil gave the majors a huge cash balance & they kept spending.

yes there will be a spike, but this time it wont come back.
$100+ poo is coming FOREVER.