Oil Glut To Continue Or Scarcity Looming? Depends Upon Whom You Ask -- Rigzone -- April 10, 2017

Nice article over at Rigzone. Archived.

Two arguments.

• Spending cuts for large oil projects will result in supply crunch in the next two years
• investment banks, many of which finance new projects
• majors, including Total and Eni
• Wood Mackenzie
• Morgan Stanley
• Looming recovery in US output with an avalanche of new conventional projects on the back of high oil prices will create a substantial surplus by 2019
• Goldman Sachs
• predicts the coming two years will see a huge burst of development
• the huge burst of development will complicate OPEC's efforts to rebalance the market 
• will result in material oversupply in 2018 - 19
• warns that new projects and rising shale output could add 1 million bopd by 2018-19

Much more at the link. It will be interesting to re-look at this article two years from now. Or maybe as early as next year.