Thanks antibotter , last week Alex Steel from Bloomberg reported...

Thanks antibotter , last week Alex Steel from Bloomberg reported a litany of oil producing countries , both OPEC and non OPEC who are unable to pay their debts and have made dramatic cuts to their productions . Not unlike US shale . So shortages are coming , along with the American driving season due to begin in May we should see excess inventories vanish, according to Goldman Sachs . But lets look beyond the inevitable recovery in the oil price , and ask will there be enough shortages to push the price above $100 pb. , how long will it take to rebalance supply ? Well I think Banks and Hedge Funds will be very wary of financing oil ventures for some time , which could hold a shortfall in supply for years . It is said that World Banks are still carrying hundreds of billions of bad debts from the GFC and will not finance risky high cost new oil , as the Saudis could just as well give a repeat performance and they would loose hundreds of billions again . So if this leg of the Saudi plan is complete , and just needs to wash through , the next leg no doubt is to keep financials away from oil , and this may also work . So OPEC , Russia and Big Oil will control supply and price , and as no new oil has come to the market in years , and depletion of existing wells is now 5 billion bls a year , will $100 oil be enough , after the Trillions of dollars in revenue lost over the past couple of years , I would think the oil price will rise above $100 to recover the massive losses . So where do we sit in all of this ? Well I'm going to wait and see , because if this scenario rolls out and $125 pb is the norm . Then MRM is in for a rocket ride ....... cheers