Oil Major Total Sees 10 Million Bpd Supply Gap In 2025 ...Middle East

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Oil Major Total Sees 10 Million Bpd Supply Gap In 2025
source : OILPRICE ( Middle East ) () 6
France's supermajor Total is warning that the world could find itself with a shortfall of supply of 10 million barrels per day (bpd) between now and 2025, due to continued underinvestment in the industry, the OPEC+ pact, and cracks in the U.S. shale business model. "There is a risk of supply crunch in the mid-term," Helle Kristoffersen, President, Strategy and Innovation at Total, said on the company's Q4 earnings call this week. "We have seen in 2020 how OPEC managed to bring back market discipline. We've seen the cracks in the US shale model,…

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