RE:WTI can get back to $50 without OPECI think i disagree with you on that one. While it has been proven that they do very little to firm up pricing they are instrumental in destroying it. A prime example is the run down from 50 to 40 with the mention that they have increased production through the summer. down the road we will probably see them increase production again once they start to measure that frac producers are starting to redeploy rigs and frackiong equipment on pre drilled holes as prices start to get back to 50 again and debt payments start coming due.
They have gone a long way to reduce thier cost's in the kingdom amd this has made them much leaner than in the past. My feeling is that 2017 will be the year of balancing ans 2018 will see productive price increases. We still need to see more very large bankruptcies first as the Saudi's underestimated the efficiencies oilco's can achieve while under the gun and it's taken longer than they oiginally anitcipated to rationalize production by non open producers.