Keep in mind that the 1990’s recession saw oil demand drop by 8% globally. In todays demand level that would be close to 8M bbl/day. OPEC’s gonna need a lot more cutting to hit this demand destruction. But much of OPECs competition cant make it at $40/bbl. So between peak oil and competitive destruction, you may have a winner, but that could take over a year to hit. Timing is everything.