Oil Major Total Sees 10 Million Bpd Supply Gap In 2025
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