fudd those figures were stated two years ago when the oil price collapsed and rig rates were down by 50%. I think more importantly Russia and SA can't increase production by a great amount and US frackers will only produce more with higher prices. The majors have curtailed new investment. We also see the US has been releasing oil from the strategic reserves for many months now. This can only lead to higher prices going forward.
Fuddstone, you are the one who needs to do the research. Yes there is ample oil in the world but at what cost to extract. All the cheap extractable oil has been used (low hanging fruit).
You obvioulsy didn't read the article. Oil will skyrocket well past $100 when OPEC can no longer keep up with demand, estimated in a few years time. (Perfect for Sealion)