InvestorQ : What is the reason for crude oil rising from zero to $100/bbl in just 2 years?
Arti Chavan made post

What is the reason for crude oil rising from zero to $100/bbl in just 2 years?

Answer
image
Rutuja Nigam answered.
3 months ago
Follow

That is a billion dollar question; how did crude traverse from $0 to $100/bbl in less than 2 years? Post the pandemic, analysts had generally predicted that demand would take a long time to recover. However, they have been proven wrong. Not only has demand picked up, but even the internecine supply wars between the US and OPEC have come to an end. In 2021, global oil demand was more than supply by 2.1 million bpd. At the end of the day, it was delay in supply revival that really spiked prices.

4 Views