Conoco CEO: Oil Demand To Rebound To Pre-Pandemic Level By Early 2022

Crude oil demand will bounce back to levels from before the Covid-19 pandemic by early 2022, ConocoPhillips’ chief executive Ryan Lance told Bloomberg, adding that meanwhile, supply will remain constrained. “We see the demand improving, we see probably getting back to pre-pandemic levels by the end of fourth quarter or the first quarter of next year and the market getting relatively balanced,” Lance told Bloomberg. “We’re pretty bullish on the next couple of years.” Conoco just bought Shell’s Permian assets…