This is BAD!
According to predictions from Bank of America analysts, Brent crude oil may cost more than $100 per barrel!
According to Fox Business, “Global demand will outpace supply in 2022 as effective COVID-19 vaccines and OPEC+ supply curbs keep supply and demand out of whack.”
Furthermore, Bank of America strategist Francisco Blanch said, “There is plenty of pent-up oil demand ready to be unleashed.”
Experts claim that the 18-month pandemic lockdown forced more private travel and less mass transit meaning more miles were driven causing a continued demand for oil.
Blanch also believes that West Texas Intermediate crude oil will hit $95 by next September.
A single barrel of oil hasn’t cost more than $100 since 2014.
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