looking at the long term graph,its safe to say oil has been steadily increasing and facing upwards pressure since the mid 1990s,with the occasional crash every now and then,lets face it global world consumption has been increasing steadily from sixty million barrels a day to 95 million a day with no sign of relief for the past two decades......any glut or manipulation is only temporary at best,mankind's consumption is out of control,even if there is excess production,the huge amount of consumption and the conditions to make oil $100 is so easy.the world has shown that they are able to afford oil at $100 a barrel and the ability to support it is there,theres no reason why oil should be cheap,the days of cheap oil back in the sixties and seventies are over.
right now oil is considered cheap even at $40,thats the price of the previous crash back in 2008 when i also bought oil options after the crash and made a nice little profit.
if only oil is a company and not a commodity like coca cola,imagine ur world consumption base increase 1 to 2 million bottles a day every year,every year u increase ur sales/revenue by another addition 730 million bottles,my god.....i would buy and hold it forever......