Demand trails price and production trails demand by several years and it's related to politics. So it's hard to make real predictions. In the end politics plays a huge role in today’s oil prices and long term we can manufacture it from other sources for less than 200$ per barrel. Granted we use a lot of oil so infrastructure costs are huge so the major players are going to be vary conservative.
Demand trails price and production trails demand by several years and it's related to politics. So it's hard to make real predictions. In the end politics plays a huge role in today’s oil prices and long term we can manufacture it from other sources for less than 200$ per barrel. Granted we use a lot of oil so infrastructure costs are huge so the major players are going to be vary conservative.