I don't think the oil price ca

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zzgundam
2021-06-22

I don't think the oil price can hit $100 as it will cause huge inflation which US government and Federal would not like to see. Hence, US can use all its tools such as allowing more shale oil or signing deals with Iran. Lastly, don't forget US has tremendous power in OPEC+, US can let them produce more barrels per day.

Oil could spike above $100 next year, Bank of America says

Oil could hit $100 per barrel next year as demand outstrips supply, according to Bank of America. Th

Oil could spike above $100 next year, Bank of America says

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Hence, US can use all its tools such as allowing&nbsp;more shale oil or signing deals with Iran.&nbsp;Lastly,&nbsp;don't forget US has tremendous power in&nbsp;OPEC+, US can let them produce more barrels per day.&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>I don't think the oil price can hit $100 as it will cause huge inflation which US government and Federal would not like to see. Hence, US can use all its tools such as allowing&nbsp;more shale oil or signing deals with Iran.&nbsp;Lastly,&nbsp;don't forget US has tremendous power in&nbsp;OPEC+, US can let them produce more barrels per day.&nbsp;</p></body></html>","text":"I don't think the oil price can hit $100 as it will cause huge inflation which US government and Federal would not like to see. Hence, US can use all its tools such as allowing more shale oil or signing deals with Iran. Lastly, don't forget US has tremendous power in OPEC+, US can let them produce more barrels per day.","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":9,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/120192758","repostId":1132969592,"repostType":4,"repost":{"id":"1132969592","pubTimestamp":1624286146,"share":"https://www.laohu8.com/m/news/1132969592?lang=&edition=full","pubTime":"2021-06-21 22:35","market":"us","language":"en","title":"Oil could spike above $100 next year, Bank of America says","url":"https://stock-news.laohu8.com/highlight/detail?id=1132969592","media":"CNBC","summary":"Oil could hit $100 per barrel next year as demand outstrips supply, according to Bank of America.\nTh","content":"<div>\n<p>Oil could hit $100 per barrel next year as demand outstrips supply, according to Bank of America.\nThe firm identified three factors on both the demand and supply side that should support prices into ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/21/oil-could-spike-above-100-next-year-bank-of-america-says.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil could spike above $100 next year, Bank of America says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil could spike above $100 next year, Bank of America says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 22:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/21/oil-could-spike-above-100-next-year-bank-of-america-says.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oil could hit $100 per barrel next year as demand outstrips supply, according to Bank of America.\nThe firm identified three factors on both the demand and supply side that should support prices into ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/21/oil-could-spike-above-100-next-year-bank-of-america-says.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/06/21/oil-could-spike-above-100-next-year-bank-of-america-says.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1132969592","content_text":"Oil could hit $100 per barrel next year as demand outstrips supply, according to Bank of America.\nThe firm identified three factors on both the demand and supply side that should support prices into 2022. Analysts led by Francisco Blanch pointed to pent up travel demand following more than a year of lockdown, and said that consumers forgoing public transit in favor of private cars will also raise demand for fuel.\nFinally, remote work could lead to more miles driven as consumers hit the road without being restricted by in-office work.\nOn the supply side, Bank of America highlighted policy pressure to curb capex to meet goals outlined in the Paris Agreement, as well as calls from ESG-focused investors to shift dollars toward green energy. Judicial pressures to limit emissions are also growing, with aDutch court rulingin May that Shell must reduce carbon emissions by 45% by 2030.\n“In short, demand is poised to bounce back and supply may not fully keep up, placing OPEC in control of the oil market in 2022,” the firm wrote in a note to clients. OPEC and its oil-producing allies implemented historic production cuts of nearly 10 million barrels per day last year as the pandemic sapped worldwide demand for petroleum products.\nWest Texas Intermediate crude futureshave rallied 80% over the last year and traded around $71.30 per barrel on Monday, whileBrent crude futureswere at $73.50. While Bank of America believes the gains are in for this year, the current market conditions could push Brent to $100 in 2022.\nBlanch anticipates oil demand growing by 11.7 million barrels per day year over year during the second quarter. After that, he sees demand rising by 5.6 million barrels per day for the next three quarters, leading to global demand sitting at 101 million barrels per day by the end of 2022.\n“With the oil market likely to remain in deficit due to this rapid sequential demand increase, we expect pressure on inventories to continue. In our projections, the oil market will likely remain in deficit for the foreseeable future, averaging a shortfall of 0.9 million barrels per day over the next six quarters.”\nThe firm now sees Brent and WTI averaging $68 per barrel and $65 per barrel respectively in 2021. In 2022, those numbers go up to $75 and $71. 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