Global oil production peaked in 2008, and I think that as you scale back activity around the world, both because of low prices and the credit crunch, you going to see particularly the non-OPEC supply fall dramatically in 2010 and 2011…Crude supplies are going to fall, and the economy will rebound and new demand will kick in at about the same time that supplies are falling. So when I look at crude in two, three, or four years, I think prices will be meaningfully higher. In the next six months, who knows? My gut says it’s probably going to drift higher, but my confidence level in that is very low.

One thought on “Marshall Adkins, Managing Director, Energy Equity Research, Raymond James”

Comments are closed.