Interesting take, that you think the world is acutally going on the up tick where as i think we're entering a softening cycle.
But yes, my rebuttal is simply a reflection of my belief in a down cycle in response to winetrooper, if you think the global economy still has alot of juice left then, my below analysis wouldnt apply.
The Americas, not just the US has a significant amount of Oil supplies, production may only be the numbers you quoted but that clearly doesnt tell the story when oil prices go up. The supply in north america puts a very heavy downward cap on where the
price of oil can rise.
Alot of this has to do with OPEC + Russia agreeing to cut and Venezuela in a shit hole so they cant sell anything.
We're also starting to see that the North Americans ramping up production to the highest in 10 years, OPEC is starting to break @ the 65$ mark and have increased outputs in Jan. Russia has stated that they're going to start pumping more again too.
Add that to a future potential loss of usage when a larger majority of car manufacturers move towards direct electric engines all point to a limited upside to oil in the long run.
I'd say 75$ is the possibility and 80$ is the stretch. but with WTI @ 65$. 80$ only represents a 23% gain. That's a long holding period / risk for so little gain.
vs. the excellent recommendation of NKTR. 14% in 1 week.