Well, 190 USD ae certainly on the extreme end but eventually, a price rise is in order. Some of the switched-off wells won’t come back even when prices rise a bit. But imagine whats going to happen if it goes 3 digits. It’s going to put steroids into shale drilling and it will also put steroids into gas-as-vehicle-fuel because the price differential between diesel and Natural gas will go out the window again.
In a little-noticed report, JPMorgan Chase warned in early March that the oil market could be on the cusp of a "supercycle" that sends Brent crude skyrocketing as high as $190 a barrel in 2025.