The world’s crude oil supply is rising even as demand is cratering. Some parts of the economy are grappling with pandemic-driven shortages. The oil industry has the opposite problem: so much extra oil that it’s not clear where to put it all. With millions of people not taking trips, commuting or flying, the world’s appetite for oil has come crashing down, thanks to the coronavirus . At the same time, a price war between giant producers Saudi Arabia and Russia has caused the oil supply to swing up . “I cannot remember having seen such a large potential oversupply situation — ever,” says Bjørnar Tonhaugen, the head of oil markets at Rystad Energy. The expected surplus is “so large as to raise questions about where it can all be […]