A global energy crisis has unfolded alongside the Covid-19 pandemic. The delay of oil producing countries to cap supply levels has compounded the unprecedented drop in global demand ascribed to international lockdown measures. In April 2020, this culminated in oil plunging below zero for the first time in history, as traders scrambled for storage facilities at a premium. This program will investigate the long-term ramifications of this crisis on the industry and seek to answer the question: has crude oil reached its nadir? Is this a moment for consolidation and recalibration?