As the world recovers from COVID pandemic

OIL prices expected to reach $100/barrel*

*source:
reuters.com/business/energy/demand-accelerates-bofa-expects-oil-reach-100bbl-next-year-2021-06-21/

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WHAT MAKES OIL SO HOT RIGHT NOW*

Global businesses quickly recovering after COVID pandemic
Demand increasing faster than global suppliers can keep up
Oil market experiencing supply shortages
Tight supply & growing demand could push prices to $100/barrel in 2022

FACTORS THAT COULD PUSH OIL HIGHER IN 2021*

+70.65%

Last 3 Months*

Strong Rebound – Bank of America experts see consumption recover strongly in 2021 & 2022 (fastest since the 1970s)

High demand – High demand – reported oil demand has recently increased drastically as global recovery from COVID continues

Low supply - after global COVID shutdown, exports from oil-producing countries reduced

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