Oil Supply Adequate For Now, But Larger Supply Crunch Looms

Global oil supply will be enough to meet demand in the short and medium term, but the world is headed towards a supply shortage after 2026 unless the oil industry boosts investment in new projects, participants at last week’s Energy Intelligence Forum 2021 said. In the immediate future and in the next few years, global oil supply will be adequate to meet demand, because of the available spare capacity which the OPEC+ group is currently idling in their deal and the supply expected to come from already sanctioned new projects, according to…