Storing for the future or for the now? As economies recover from the pandemic, demand should surge, which will dent all the stored up oil sloshing around. Also in this package Five-metre, 3D-printed twin of Michelangelo’s David unveiled as stunning centrepiece of Italy’s Expo 2020 Dubai pavilion What if the next ‘peak oil’ is the last one? According to analysts, this could happen anytime between now and 2040. The International Monetary Fund (IMF) estimates peak oil to be around 2040 itself. These estimates, nonetheless, were made before the ramifications of the pandemic were fully grasped. That said, peak oil may be sooner than initially anticipated and forecasted. The disruption caused by COVID-19 to supply chains – and the sudden halt in economic and business activity that came with it – added to the uncertainty surrounding oil markets. The initial drop in prices, and futures contracts linked to them, were […]