more money than sense, page-26

Yet, with oil companies’ capital expenditure reductions set to reach $1 trillion by 2020, Simon Flowers, the Edinburgh-based chief analyst at Wood Mackenzie Ltd., said there’s a "ticking time bomb" that will eventually push prices higher. Such reductions may even push demand above supply as early as the end of this year, said Hans Van Cleef, an ABN Amro energy economist.
The lack of investment “will have a big impact on global supply," said Van Cleef, who forecast Brent will reach $70 next year. As soon as the market realizes there isn’t an oversupply and that a shortage is imminent, “that should give a huge boost to oil prices,” he said.

This IMO will change the game for MRM... all the catching up... But the hard work is getting the timing right... Cheers!