Views: 0 Author: Site Editor Publish Time: 2021-06-23 Origin: Site
As the market's expectations of the Fed's tightening policy are rising, inflation-related transactions have frustrated last week, and the prices of US stocks and commodities have generally corrected. And this week crude oil regained its upward momentum after experiencing a brief decline.
Looking into the future, analysts’ expectations for crude oil’s prospects have not changed with the changes in the Fed’s policy. On June 21st, Bank of America joined Wall Street’s bullish oil price to 100 US dollars per barrel army, saying that the fundamental aspect of crude oil in the next 18 months will support oil prices to rise to triple digits.
In detail, Bank of America analyst Francisco Blanch pointed out in a research report that in 2022, as the economy recovers from the epidemic, fuel consumption will increase, and investment in heavy production of oil will suffer environmental problems. Restrictions, the scene where the demand for crude oil consumption exceeds the supply is still difficult to change.
Blanche analyzed the crude oil prospects from three key supply and demand factors. From a demand perspective:
First, after the 18-month lockdown, there was a large amount of suppressed travel demand;
Second, public transportation will lag behind, and the use of private cars will be promoted for a long time;
Third, the research conducted before the epidemic indicated that as people return from working at home to driving to work, the overall driving mileage will increase.
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