According to OPEC, geopolitical tensions are causing a $15/bbl premium.
The implication here is dire for oil investors. As soon as the geopolitical tensions end (presumably we are talking about Nigeria and Iran) the price of oil will plummet by $15/bbl.
When interpreting OPEC statements, one should always assume they are self-serving. OPEC wants the world to think that oil prices will soon plummet in order to discourage non-OPEC investment in higher oil production.
One has to assume that the price of oil is driven by supply and demand. If the price is too high, then consumers of oil will consume less and a big stockpile of oil will build up or producers will have to cut back on their production. However we don't see rising stockpiles of oil, nor do we see declining production.
For the above reasons, I don't buy into the various theories that factors other than supply and demand are responsible for high prices. (The usual bugbears are OPEC, geopolitical tensions, hedge funds, and price fixing by big oil companies). Prices are high because the world is closing in on the peak of production of conventional oil, while at the same time demand is rising around the world, especially in China.
Companies that produce oil remain a sound investment.