It doesn't seem like it takes that much surplus to set some triggers off... I think it's pretty artifical and don't expect it last that long. I think $100 is still the new norm, but $200 won't happen for a very long time.
I imagine the Tanker trade will be on. That is super rich guys will rent tankers, fill them with oil and park them at sea... Also, a lot of over extended juniors will need to cease efforts for new wells. Lastly, fracking for oil will idle back in general as $60 oil doesn't support it.
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