Oil Rises Yet Again As Bullish Demand Sentiment Skyrockets
by Ship & Bunker News Team
Friday June 11, 2021 Meanwhile, Goldman Sachs eyes $80 oil this summer: File Image/Pixabay Demand recovery due to the global success of the Covid vaccines was yet again the reason for oil price gains on Friday and the commodity reaching new multi-year highs. The trigger for Friday s trading performance was the International Energy Agency in its monthly report stating that the
Organization of the Petroleum Exporting Countries (OPEC) and allies would need to boost output to meet demand by the end of 2022, as all indications were the world would recover to pre-pandemic levels far sooner than expected.
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