Via a note from JPM on oil ICYMI:
- estimate the equilibrium price of WTI oil at around $70/bbl
- even at $60/bbl, WTI prices are too low to incentivize production, potentially leading to a spike to $100/bbl in following year
JP Morgan on oil - wary of diminished incentivization driving a spike to US $100 / barrel
- Say equilibrium is around &70
