look long term. Woods McKenzie reported earlier this week that conventional field depletion ahs accelerated the last few years and they are now anticipating organic depletion of 5 million barrels per day for 2016. That is even more depletion than anticipated by Core Lbas as they said around a month back that they swa 3 million barrels per day falling off from conventional fields. Neither of those numbers include geopolitical impacts in Nigeria and Venezuela or depletion due to lack of maintenance and/or paying NOC's (Iraq).
Demand is going to rapidly exceed supply in the near future. Place your bets accordingly.