McKinsey said that its research points towards a slow market recovery scenario. "In this case, the market will take another six months for oversupply to disappear and another six-to-12 months to burn excess inventories," it said.
"In the long-term, continuous cost compression efforts could reduce average marginal costs to between $65 to $75 per barrel, driven by deep-water and light tight oil plays," the consultancy added.
According
