JPMORGAN: OIL SUPPLY SHUT-INS MAY HIT 12M BPD Global oil production shut-ins could surge to 12 million barrels per day next week as shipping disruptions continue, according to JPMorgan Chase & Co.. Head of commodities research Natasha Kaneva said the massive supply gap means the market can only rebalance through lower consumption. However, she stressed this isn’t traditional “demand destruction.” Consumers still want fuels like diesel, jet fuel and LPG—but supply shortages mean they simply can’t get them.(*Walter Bloomberg)