Not an economist, but here's what I know: It should, because among the factors that contributed to this pricing is the ongoing price war between major oil prod

Not an economist, but here's what I know: It should, because among the factors that contributed to this pricing is the ongoing price war between major oil producers. Shale oil has a much higher cost of extraction, achieving sustainability at ~$50/barrel. Those businesses are out of the game for now and unlikely to come back anytime soon. Meanwhile those who are poised to survive this war of attrition will be the ones dictating the prices - at least until shale producers recover.