It is surely possible however oil price spiking much higher would send the world into deep recession and that is not what us oil bulls want. Oil price is fine right now...oil companies can make enough money to be able to invest in new production while the price is not high enough to kill the global economy. But $20 higher it would be a different story. I am the biggest oil bull on this board but I do not want to see oil at $150. Do you not remember what followed the last time that happened?