Could be lower,perhapz 65 per barrel by Memorial Day,giving major boost to American and world economies. With Domestic proven reserves skyrocketing,and abundant ng,We could see stock at or around 40 by June.
World oil fields lose 6 million barrels a day of production do to falling reserves. Thus just to stay even 6 million new barrels must come on line. The new supply is not from easy to get oil, but hard to get at expensive oil. The US shale boom is a trickle and going up slowly. Plus a lot of the oil is actually NGLs and condensates. Oil is probably headed higher and $6 a gallon gasoline is not a pipe dream. If oil were to drop to $65 a lot of projects would be shelved and down the road oil would even be higher. This is not 1980 where the world had the ability to increase production quickly.