| McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight and support to the global energy industry, forecasts that it will take more than six months for the oil markets to fully rebalance. In its latest research, MEI suggests that the pace and timing of an oil price recovery depends on four key drivers in the short-term: GDP growth, decline in producing fields, slowdown in US light tight oil (LTO) production and OPEC Gulf state behaviour, in particular, Iran and Saudi Arabia.
MEI modelled four scenarios – fast recovery, slow recovery, under-investment and supply abundance – and the latest trends point towards a slow market recovery scenario..............................................Full Article: Source
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