Monday, March 1, 2021
Home Business Reign of high oil prices is here to stay, say analysts

Reign of high oil prices is here to stay, say analysts

India is doubtless to go forward with an oil tax minimize to soften retail prices, mentioned Bank of America Securities.

Synopsis

International crude oil prices have surged to their highest ranges in 13 months just lately, led by a robust demand outlook due to restoration in world economies in addition to provide disruptions within the Middle East.

Mumbai: Leading brokerages akin to Morgan Stanley and Goldman Sachs count on crude oil prices to contact $70-75 a barrel this yr pushed by decrease anticipated inventories and better marginal prices. These brokerages consider that the oil market has been undersupplied this yr and oil prices will see a pointy uptick ultimately.Goldman Sachs estimates Brent crude oil prices will contact $70 a barrel and attain $75 a barrel within the third quarter.“…oil

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