It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few years. Yet, a growing number of experts and international agencies warn that the world could be headed for an oil shortage when oil demand finally recovers from the COVID-inflicted crisis in late 2022 or 2023. Last year, the pandemic slashed global oil demand, which is not expected to return to pre-crisis levels for at least another year and a half. But the coronavirus also accelerated a structural decline in upstream oil investments as all E&P firms. Oil supermajors, U.S. shale producers, and national oil companies alike slashed capital expenditures in the wake of the price crash. Investments in new oil supply have now slumped to a more-than-a-decade low. If the industry doesn’t raise upstream investments in coming years, the oil market […]