Putting single figures on to the price of oil is something policy makers like. In reality we have a poor understanding of why the price of oil is where it is. If we did then we might be half capable of predicting where it will be a year or a decade from now. Instead we are awful at forecasting this stuff.
Here is what the IEA concluded about oil price forecasts:
"Forecasts based on futures prices, surveys of analyst forecasts, forecasts based on a variety of simple time series regressions and other common forecasting techniques are generally inferior to the random-walk forecast, which implies that the best forecast of crude oil spot prices is simply the current price of oil,”
Naturally this conclusion has not stopped the IEA from issuing regular oil price forecasts.
So, my general point, a pet peeve I guess, is that we should talk about how uncertain future oil prices will be, not what current prices are.