Bank of America has predicted $ 100 oil price

News

Bank of America has predicted $ 100 oil price

22.06.2021 News

The price of Brent oil may rise to $ 100 per barrel by 2022, according to a report of Bank of America. Analysts of the organization have found six reasons for this development. Three reasons are related to demand and three – to supply.

The first point is the delayed demand for fuel after lockdowns, the predominance of private road transport over other modes of transport, as well as remote work, which can turn into a “work from the car”. This will increase the distance people travel.

Rising capital costs of companies to achieve the goals of the Paris Climate Agreement may also contribute to rising prices. Investors have begun to influence more and more the energy sector, shifting its development to a greener side.

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