Oil Prices: The Inevitable Bounce Back?

My recent essay on oil prices relied largely on the economics, but insinuated - if only indirectly through the financial markets' trading of oil-linked instruments - on the role of geopolitics. The Financial Times has an interesting piece that solely argues the geopolitics case, highlighting the dominant role of Saudi Arabia in this 'saga'. We however converge on the fact the the oil prices could be on the rise. I am already seeing evidence to that effect (see Figure).