Bank of America – Oil market to drop into 1.6 million barrels a day deficit in 2021 – (BofA)
With the race of the coronavirus (COVID-19) flashing optimistic indicators off-late, the Bank of America ((BofA)) eyes additional restoration within the oil market situations.
Moreover, the US bank 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 stated, WTI eases from the very best since early March whereas taking rounds to $44.85. The vitality benchmark flashed the heaviest rise final two weeks the day before today amid market optimism over the US President-elect Joe Biden’s transition because the nationwide chief.
Learn: WTI eases from multi-day excessive to sub-$45.00 space on API stockpiles
Bank of America – Oil market to drop into 1.6 million barrels a day deficit in 2021 – (BofA)
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