Black Swans & Barrels: How To Think About The Future Of Oil Prices by Scott Nyquist, McKinsey & Co.
No one can be sure where oil prices are headed. McKinsey’s Scott Nyquist answers the questions business leaders are asking about the state of the market.
With the intensity of ancient seers examining runes, policy makers, analysts, and economists watch every squiggle of movement in the oil markets, scrutinizing rig counts and poring over the footnotes in annual reports to glean portents of the future. With crude oil now hanging in there around $50 a barrel—a significant jump from January and February, when it lingered below $30—there is a sense that the price of crude is recovering.
That makes sense. But...
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