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More analysts partial to L-shaped oil recovery

Persuaded by shale oil, market watchers tend to favour an L-shaped instead of U or V-shaped recovery experienced in 2008
Friday, March 6, 2015 - 05:50
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The current oil market is an echo of the 2012 natural gas crash, in which shale producers inadvertently created a glut that hasn't yet been resolved.

Houston

GET ready for an L-shaped oil recovery.

A growing consensus is emerging from the likes of BP, the International Energy Agency, shale wildcatters and even the Saudis that a near-term recovery to US$100-a-barrel crude isn't in the cards. Instead, expect a range of US$50 to US