Home Forex Oil market to drop into 1.6 million barrels a day deficit in 2021 – BofA

Oil market to drop into 1.6 million barrels a day deficit in 2021 – BofA

by kyngsam


With the race of the coronavirus (COVID-19) flashing optimistic indicators off-late, the Financial institution of America (BofA) eyes additional restoration within the oil market circumstances.

Moreover, the US financial institution expects a excessive for Brent oil close to $60 for 2021 summers within the Northern hemisphere backed by easing journey restrictions to spice up demand.

That mentioned, WTI eases from the very best since early March whereas taking rounds to $44.85. The power benchmark flashed the heaviest rise final two weeks yesterday amid market optimism over the US President-elect Joe Biden’s transition because the nationwide chief.

Learn: WTI eases from multi-day high to sub-$45.00 area on API stockpiles



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