The stability of the global oil market is under threat. The impact of COVID-19 and the resultant demand destruction has put an ever-increasing amount of oil and gas producers on the path to bankruptcy. At present, the list of U.S. shale oil and gas producers filing for Chapter 11 is growing by the day, while global oilfield services and offshore drilling companies are fighting to survive. Ultimately, this very dire situation is being driven by oil and gas demand and prices, which is why a degree of stability has returned with oil prices back around the $40 mark. But there is another variable beyond just supply and demand that is now threatening to reintroduce instability to markets. Fossil Fuel Divestment, supported by international governments, international financial institutions, and investors is now threatening to push oil and gas companies into the abyss. In recent weeks, a group of 12 major […]