IMHO the first thing to effect a sustained rise in prices above the current range will be budgetary problems in Saudi Arabia.
When they have to start borrowing to fund their country's operations they will take a hard look at why....
Any prevailing unrest in the region will affect their thinking, but if things remain calm we should see coordinated attempts to reduce the over-supply.
So that may mean current pricing will continue into 2017.
When they have to start borrowing to fund their country's operations they will take a hard look at why....
Any prevailing unrest in the region will affect their thinking, but if things remain calm we should see coordinated attempts to reduce the over-supply.
So that may mean current pricing will continue into 2017.
Carbon-Dioxide: the gas of life!