My 2c:
OPEC arent setting these prices. Futures traders (who got burn't last FY on oil) are. They are talking it up - that is their job after all. And being all in their early 20's they know their stuff.
Whilst supply issues are of concern in the long term (Peak Oil etc.), the current bottleneck is refinery and rig output. Have a look at the guys working on the old refineries and engineering the rigs - they are all at, past or close to retirement age. The oil companies took their profits in the early 90's (for their shareholders and execs) but did not invest in new plant or train new engineers. The results are now coming to fruition.
BTW - does this sound different to any other company these days?!