The mantle of 'Oil noose of the West' may be transferring to Russia from OPEC to an extent. Too many variables to worry about though.
OPEC still the main key to $40 a barrel continuing. This is in our interst as oil co shareholders. However over $50 -60 a barrel is in none of our interest as it would damage world trade / output of goods, which in turn would end up as a reduced demand for fuel. Anyhow this hasn't got much to do with SEY in 2005-6 years, only a crash to under $30 a barrel can hurt SEY. I'm well stocked up here! and yes the chart starts to show promise, and compare it to the same time last year...