Yes, oil prices look like they can only rise into the nether but I beg to differ. We had more than once when oil was slated to go above 200.- and are still waiting for it. Sure it’s possible but high oil prices are also pretty deadly for a country like China which imports much oil and whose export industry is already damaged. I don’t expect China to have any growing demand for any more oil in the future, I actually expect its demand to fall pretty sharply in the next few years. that should rein oil price developments in.
Doug King of fund manager and commodity trader RCMA sees far greater upside than down in the oil market