Persuaded by shale oil, market watchers tend to favour an L-shaped instead of U or V-shaped recovery experienced in 2008
Fri, Mar 06, 2015 - 5:50 AM
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.
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...