Wood Mackenzie: Oversupply to Correct in 2H of 2017

The video discusses the current state of the oil market, focusing on the supply glut and the challenges faced by OPEC in reaching an agreement to cut production. Insights from the World Energy Congress highlight the need for market balance. The US oil industry is adapting to low prices, with increased rig activity. Future demand growth, particularly from Asia, is expected to drive prices higher, despite differing opinions on when prices will reach $60 per barrel.

What is the expected impact of demand growth on the oil market balance?

How do the forecasts for oil prices differ between market analysts and futures markets?

What role does Asia play in the current demand growth for oil?