The oil and gas sector is currently enjoying a mini-boom cycle as economies gradually re-open and oil demand begins to return to a semblance of normalcy. The oil markets are in an upbeat mood once again, with oil futures trading sharply higher on Wednesday after the U.S. government reported a third-weekly drop in weekly inventories while the International Energy Agency (IEA) issued a bullish oil report for 2021 . After declining 8.7 mb/d last year, the IEA now expects world oil demand to expand by 5.7 mb/d in 2021 to 96.7 mb/d. For many U.S. shale producers, however, there’s still little to cheer about, with record numbers filing for Chapter 11 bankruptcy protection. According to Energy and restructuring law firm Haynes and Boone, bankruptcies by North American oil producers climbed to the highest first-quarter level since 2016 as energy firms continue to struggle to recover from the carnage of […]