Emerging economies should take advantage of lower oil prices to foster their manufacturing industries

"Global oil prices will follow a 'U'-shaped cycle. Korean companies need to plan for six to 18 months of low oil prices," said Peter Parry, Bain & Company's Global Oil & Gas practice leader. "The US and India are seeing economic growth this year, but China and Western Europe are slightly slowing, which makes a rapid recovery of demand for oil unlikely."

(Full article only available in Korean)