Some 20 to 30 dollars (in the price per barrel) is pure speculation,

At $63.92 per barrel, this breaks the record for the highest WTI price at which a cut has been explicitly called for.

This may seem unreal now, but six years ago the price was $16 per barrel.

Forty U.S. dollars per barrel is a reasonable price, taking into consideration production costs, supply and demand, trading and speculation activities.

The price-tag for all this is going to be enormous - tens of millions of dollars per year for at least a decade,

A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.