The Pandemic Could Lead To A Major Oil Supply Crunch

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…