An American bank expects the price of a barrel of oil to rise to $100
An American bank expects the price of a barrel of oil to rise to $100
Monday, June 21, 2021 | 01:20 PM
The American investment bank “Bank of America” expected that the price of a barrel of “Brent” blend would rise to the level of $100 by 2022 .
Regarding the reasons that will lead to the growth of oil prices so quickly, the US bank referred to the delayed demand after the closure measures that were imposed due to the Corona crisis, and the increase in demand for fuel due to the increase in travel distances .
Bank of America analysts also raised their forecast for oil prices for 2021 from $60 to $68 a barrel, amid a recovery in demand driven by the vaccination process against the Corona virus, thanks to the recovery in demand for black gold and record production cuts by producers within the framework of the “OPEC” agreement. +”.
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