no one trading oil - why, page-44

There is a lot to consider here. I wouldn't be expecting a rapid recovery back to $80 - $100 in the short term. This could be a structural shift that will stick around for a while. I'm a buyer at $35 -arguably what the incremental production cost is for existing shale projects. The real question is then how long will it take to mop up this existing supply and result in higher prices which then make new projects ( and more supply) feasible.