- July 1, 2021
- Posted by: adminer
- Category: Natural Resources, Trade and Industry
As travel demand rebounds globally, crude oil price may surge to $100 a barrel next year.
The Bank of America Corporation predicted the strongest call yet among major forecasters for a return to triple digits.
Global oil consumption will continue to outstrip supply in 2022 as the economic recovery from the pandemic boosts fuel consumption, while investment in new production is crimped by environmental concerns, the bank said in a report.
“There is plenty of pent-up oil demand ready to be unleashed,” the bank’s New York-based head of commodities research, Francisco Blanch has predicted.
Brent futures traded $75 a barrel last week…