- Iran is back on track and will be pumping out record .
- Reserves are at all time records or near enough.
-We are still not using as much as we are producing.
As the higher cost extraction oil will be shut in we will get to a balance. Then we can see prices rise as reserves fall and equilibrium is restored.
On the other hand as a commodity that can be manipulated there is always the chance that the puppet masters can keep the price inflated.