This guy has obviously taken a big punt in the other direction. Right now in spite of the usual disagreements within Opec, they can defend any price they want, and that price will end up being a price that they believe will not damage oil's long term interest. They are testing where this is. The main risk is that they won't be able to control the upside.
One of the most important articles recently was the Shell one which stated an expectaion of $40 oil (one version of the article said $30-40)for next 20 years. When this moves from being an internal report to a policy statement, then the dynamics change, and the value of possible investments chnges considerably. i.e. more takeovers, and one hell of a lolt more exploration. This is good for oil service company shares also.
HDR
hardman resources limited
