SP, page-59

I have just had a quick squint at the plethora of articles over the week-end re future oil prices.
CNBC have a couple of articles that seem to encapsulate where we are at- despite improving prices US oilers are filing for Chapter 11 at the highest rate yet.Best guesses,per the articles,seems to be that prices are likely to be around $50 for maybe a year yet.
IEA ,part of the US Governments Energy division and considered by most/many energy followers as the benchmark predictor of energy prices, predicts prices next year(and later this year)well above this figure .
If they are able to the parties who drove prices down to the lowest levels,purportedly to wreck the US shale producers, will want to sustain that pressure or their "plan" will not have been too successful,IMO.
If the shalers (or receivers of the bankrupt shalers)can get prices into even the mid 50s many shale wells will come back on stream,allowing for considerable costs to get wells producing again.
50ish,for a year, will mean our ORE balance will head skyward for another year and that would make our chances of getting the debt back to zero by 3/20 none too flash.