The percentage of oil staying within oil producing countries to build their own infrastructures is also being factored into prices.
According to Bloomberg "options to buy oil for $200 on the New York Mercantile Exchange rose 10-fold in the past two months to 5,533 contracts, a record increase for any similar period."
These bets are not being made by under-educated retail investors. They are being made by professional traders who see large profits in putting money down that oil hits $200 by year-end.
Macroeconomic trends favor the bet more each day.
Douglas A. McIntyre