Sunday, February 2, 2025
BofA sees oil demand recovering, hikes crude forecasts- oil and gas 360

BofA sees oil demand recovering, hikes crude forecasts

Reuters Bank of America (BofA) Global Research has lifted its oil price forecast for this year and next as demand recovers from coronavirus-linked shutdowns, the OPEC+ output cut deal curtails supply, and producers slash capital expenditure. The bank now sees Brent crude oil averaging $43.70 per barrel in 2020, up from a previous estimate of $37. In 2021 and 2022,

Oil falls on fears over rising virus cases worldwide- oil and gas 360

Oil falls on fears over rising virus cases worldwide

Reuters LONDON – Oil prices fell on Monday as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers. Brent crude LCOc1 was down 24 cents, or 0.6%, at $41.95 a barrel by 1141 GMT. The West Texas Intermediate (WTI) crude contract for August CLc2, which became the