The writer chairs the Policy Institute at King’s College London
At just $36 for a barrel of Brent crude $32 for the US benchmark West Texas Intermediate, oil prices at the end of last week were back in real terms to the level of the early 1990s.
The cheering message for investors and companies in the sector is that there are a range of countervailing forces that will ensure some measure of recovery over the next few weeks. The less good news is that a number of other factors will set a ceiling on any significant price rebound.
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