The oil market is facing an unprecedented crisis as COVID-19 causes demand destruction and OPEC+ has proven powerless to stop oil prices from crashing. But behind what seems like an endless flow of bearish news, a new bull market is already forming.CAPEX and OPEX cuts by nearly every oil and gas company on earth, forced by plummeting revenues, low demand, and brimming oil storage tanks, are the first step in what will likely become a roaring rebound in oil prices. Taking the devil’s advocate position, one could argue that the main long-term support factor for oil and gas prices is the current crisis. As global oil and gas majors, independents and NOCs announced major cuts and austerity measures, some bullish investors are already looking into the future.As the global economy is slowly moving towards reopening, almost no one believes that demand or prices will shoot up later this year. […]