$80 base for oil?

I was unhappy to learn that OPEC ministers said that they would cut production if oil fell below $80. Judging by proven crude oil reserves, OPEC controls 69 to 84% of total reserves, making it difficult to argue with them.

I guess that asking for $60 per barrel is probably wishful thinking. Nevertheless, there are still many factors that have the potential of significantly reducing the price of oil - a strengthening dollar, a US recession, or some invention of an alternative energy. In addition, I remain bullish on Southwest in light of upcoming mergers in the airline industry.