The 2 factors that could send oil prices 23% higher over the next year, according to Bank of America

Dec 12 2022 by Business Insider

 

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Global crude prices have fallen sharply but they could jump 23% over the next 12 to 36 monhts, according to Bank of America. The deep inversion of the 2- and 10-year Treasury notes signals worse-than-expected recessions worldwide, which poses demand risks to oil. BofA analysts said oil prices depend on a Fed pivot, as well as China reopening its economy. 

Bank of America says oil prices could surge 23% from current levels and hit $90 a barrel depending on two...

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