Global oil supply gap nears 900 million barrels
The world consumes roughly 100 million barrels of oil every day, but a significant portion of that supply has not been produced in recent months.
The gap is not closing, with Shell CEO warning of a crude shortage of close to 900 million barrels.
This shortage is deepening every day, with 12 million barrels per day of crude taken off the market.
Supply balances are expected to be tight for the coming months, if not the next year-plus.