"Occidental CEO Predicts Oil Market Supply Shortage by 2025"
Occidental CEO Vicki Hollub predicts a supply shortage in the oil market by the end of 2025 due to the world's failure to replace current crude reserves quickly enough, with less than 50% of the oil produced over the last decade being replaced. Despite the current oversupply and low oil prices, she anticipates a flip in the supply-and-demand outlook by 2025, with OPEC forecasting global oil demand to outstrip production growth, potentially leading to a supply deficit unless production cuts are adjusted.
