OPEC has said there is as much as a $10 to $15 political premium on the price of a BBL of oil right now.
$2 oil isn't here at all. The right price of a BBL is between $26 and $33/BBL.
It was also reported last week that OPEC no longer has control over the price of oil - that China's absorption of the world's natural resources is trumping internal price controls.
We closed near $50. $60 will be here quickly once that barrier is broken. Just my opinion.
The right price for oil is what the market demands.