D.Lamination,
I think most authorities go for $82US allowing for inflation.
Different scenario at that time, it was politically inspired sheenanigans that sent the price up.
This time it is demand exceeding supply, the price came down after the political Hoo Ha, but the demand is going to keep outstripping supply this time, the chance of the price dropping any significant amount is very remote.
It is over 35 years since the last significant discovery of a new oilfield. And there has been a lot of looking going on.
Prospector