So based on that, I am speculating that oil and gas production will remain high over the next few years. Further, a rise in oil price will work to increase the number of sites that can either return to production or open new wells. I further assume that there will be additional improvements in the technology so that it will either be more efficient or lower cost.
The net effect that I see is making it much harder for multi year significant increases in oil price. I see $20 per barrel as the low end and $40 for the upper end for quite some time - decade perhaps.
Predicting the price of oil out a decade is a fools game.
Way too much affects the price of oil outside the oil industry.