The long-awaited, much-anticipated energy market recovery has begun, Baker Hughes CEO Lorenzo Simonelli said on Monday during CERAWeek, according to Reuters . The oil and gas industry suffered last year as the coronavirus pandemic knocked out demand as people hunkered down and stayed home, stifling travel. Since March 2020, the industry has been keeping a close eye on oil demand and oil inventories—metrics used to gauge the overall supply and demand balance. During this time, willful participants like OPEC+ have engaged in aggressive oil production curtailments designed to restore this balance, while other producers like the United States cut production not as a concerted effort, but because inventories were sky high and prices were severely depressed. But when oil demand dipped to the degree it did in 2020, all these oil production cuts were not enough to bring a quick balance to the market. But now that OPEC+ has […]