| The persistent oil glut has now pushed a price recovery into the second half of 2017, a new report from McKinsey Energy Insights found. McKinsey modeled four possible scenarios: a fast recovery, a slow recovery, under-investment and supply abundance.
The report found that the latest trends indicate that a slow market recovery scenario is the most likely outcome. In a slow market recovery scenario, McKinsey found that it will take another six months for the market to clear the current oversupply. Once the oversupply disappears, McKinsey expects that another six to 12 months will be required to work through excess inventories...........................................Full Article: Source
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