McKINSEY sees upside in oil prices
McKinsey Energy Insights has released its latest Global Oil Supply and Demand Outlook predicting that oil prices will range within $60–70/bbl over the next three years.
That is if the market trades ad MEI expects, in which case oil prices would increase to $65-75 by 2030.
In the shorter term, MEI said that subject to OPEC continuing to fulfil its share of production cuts, having achieved 90% of its target in January, then the rebalancing process was likely to proceed relatively smoothly...