It was cloudy in the Algerian city of Oran on Wednesday…and a fairly pleasant 14 degrees in the open air… But the assembled leaders of the OPEC oil exporters’ cartel must have been feeling rather hot under the collar. Since hitting a peak of $147 in July this year, the price of oil has fallen by about $100. That has put the oil exporting countries under a huge amount of pressure. And now they are determined to drive the price of oil back up again.

It is always impolite to ask a lady her age. But the oil bull market is certainly no lady, besides which, we know she is about ten years old.

Is BHP Billiton (ASX: BHP) a serious oil player? Or, let’s put it this way.