Oil prices could bounce around between $50 and $70 through 2025, with both demand growth and supply growth slowing, according to a new report. The oil market faces a steep supply surplus in the near-term due to the coronavirus and the prospect of demand destruction and economic deceleration. But the U.S. shale industry likely won’t rebound from its current slump , at least not to the explosive growth rates of recent years, keeping supply in check. “Shale production economics in the US continue to point to a Brent price floor around $50/bbl or a WTI price floor of $45/bbl,” Bank of America Merrill Lynch wrote in its report. In other words, shale drillers cannot make money below $50 per barrel. By the same token, shale will grow with WTI $65 per barrel or higher, the bank said. But others have warned that this isn’t just a cyclical downturn – […]