In the last couple of months, the global energy industry has been flipped on its head. As the novel coronavirus pandemic ravaged economies around the world, the energy industry took a particularly brutal hit, made infinitely worse by an oil price war between the leading OPEC+ countries of Saudi Arabia and Russia. In the severe global crude oil glut that ensued, oil supply soon threatened to overtake available worldwide storage capacity, plunging the West Texas Intermediate crude price well below zer o, in a historic upset that sent serious shockwaves through global markets. The severity of this oil price crash and pandemic panic means that ‘business as usual’ is no longer an option. The global energy sector is at a historic crossroads in which some big, world-altering decisions will have to be made and unprecedented international collaboration will be essential in order to stabilize markets. Until now, there has […]