OPEC May Have To Adapt To Lower-For-Longer Oil Demand

OPEC is trying to come to terms with the idea that the coronavirus crisis may have brought with it permanent changes in consumer behavior, stifling oil demand over the next two decades in stark contrast to the demand that the cartel had expected just a year ago.   Some officials at OPEC are admitting the possibility – unthinkable until just six months ago – that global oil demand may not recover to the pre-pandemic levels, ever, OPEC officials and industry sources close to the cartel told Reuters’ Alex Lawler. In the wake…