OPEC, for some quiet moments..

[Kaliboo]

[" I still believe the only thing that is going to allow a sustained return of high oil prices will be a loss of skilled technical professionals in combination with increasing demand. Layoffs per major service company are in the 20+% range, so that process is well underway."] Which is why Saudi Arabia is pumping out all the oil it can (another one of the links today). Four wildcards though: - Political trouble in oil sensitive areas - OPEC revolt within (against the Saudi's) - Demand increasing more rapidly - Decline in capacity due to declining investment in non-shale areas One, three and four seem to be happening already, hence the recovery in oil

It truly is a highly unpredictable.  Add in Iranian production possible at some point. The oscillations have begun.  Oil prices moving up while Weathorford and Schlumberger among others are expanding their employee severances.  At some price point fracking of some of those ready and waiting 4000 wells will start ramping up while US and world production continues to expand.   But eventually without sufficient drilling investment, supply will head south.  Wildcards will become very important.