JP Morgan on oil – wary of diminished incentivization driving a spike to US $100 / barrel

Via a note from JPM on oil ICYMI:

• estimate the equilibrium price of WTI oil at around $70/bbl
• even at $60/bbl, WTI prices are too low to incentivize
  production, potentially leading to a spike to $100/bbl in following
  year

This article was written by Eamonn Sheridan at www.forexlive.com.