Not gonna happen. Too many places are rendered unprofitable at $50, as they fold supplies will drop and the price will go up.
Exactly right, the $50 a barrel will only bring a certain amount of oil to market, and from what I have learned $50 will bring less than the 80 million barrels a day that the globe consumes. In my view $77 a barrel will bring consumption and demand into balance. And as populations grow and more fiat money is printed, to achieve a balance the price must increase, we may very well see $100 a barrel in the next 10 years as an equilibrium price.