Gary Ross, the founder of consultants PIRA Energy Group predicted last year's rout which saw prices more than halve.

Now, though ....

  • Says oil markets aren't nearly as oversupplied as many believe
  • Says spare capacity is tight
  • Current prices are unsustainable
  • "It's hard not to see oil hitting $US100 a barrel at some point in the next five years."
  • There is a likelihood of further disruption to OPEC supplies ... and Saudi Arabia has exhausted its ability to ramp up "instantaneous" production in the event of an outage
  • Consumption increases from cheap fuel also support prices

What say the people of ForexLive?