We are going to see a big and violent shift in the oil price IMO. It will go down fast if OPEC do nothing - it will go up quickly if OPEC want to initiate the changes required to move oil prices up.
A bit of a crash in oil prices prior to the OPEC meeting may just give OPEC the motivation required to assist them in making the correct decision.
IMO - Oil searchers going for 'cheaper' oil exploration opportunities is simply out of need to build redundancy in prices. Although prices won't likely get to the $100 per barrel again - I believe a quick and solid movement to the $60+ area is completely plausible post OPEC agreement.
At $60 per barrel that means AKK is in a major money zone - and OPEC don't need to squabble about squeezing out that extra 30% in production and then having the problem of finding a place for the oil somewhere to maintain current profitability. It also stops the economic bankruptcies of Saudi Arabia, Iran, Iraq and Venezuela over the next two years.
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