OIL PRICES 2020: $50 - $60
OGJ - Based on a "lower-for-longer" base-case scenario, global oil prices will remain in the $50-60/bbl range until late 2020, due to increasing supply that breaks even at $50/bbl, according to to the most recent global oil supply and demand outlook from McKinsey Energy Insights (MEI).
The outlook is driven by a mixture of negative—supporting lower prices—and positive—supporting price recovery—market fundamentals, which are expected to impact the speed of market rebalancing and price recovery, in the medium…
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