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Also think OPEC Whilst it might not reduce Its ramped up production presently 32.1m barrels will probably signal a willingness to make way for future Iranian supply within this 32.1m barrels. OPEC likely to raise Its oficial production cuota from 30m to this 32m volume. This Would give a Little lift to oil Price which could climb to the 50-60 Range in shirt term. Saudi is producing at near Its capacity now. It cannot ramp up production much more. It has damaged expensive deep sea drilling projects ( ongoing and Future). It has hurr the Frackers. Frackers will bounce back but only with sustained price rise and only If demand warrants. Think Investors will be wary of investing in shale for a while. Barryroe and fields Like it will start to look interesting again.
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