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JPMorgan Chase analysts said in a report last week that as Wall Street bet that the economy will recover strongly from the epidemic, commodities seem to have begun a new super cycle that will last for several years.
Driven by the stimulus plan, the two major investment banks believe that oil has entered a "super cycle"
JPMorgan Chase analysts said in the report: “We believe that a new round of commodity price increases, especially the oil price rise cycle, has begun.
JPMorgan Chase predicts that international crude oil prices will rise to $100 per barrel.
Chrisstyan Malek, head of oil and gas at JP Morgan Chase, said last week: "We will face a shortage of oil before we no longer need oil in the next few years.
Some analysts still have reservations about demand recovery, and the fate of oil prices depends on OPEC
On the other hand, oil analyst Arjun Murti believes that the statement about the super cycle may be a bit sloppy.
Increasing production may become a major obstacle for the bulls.
Patrick Gibson, head of global oil supply at consulting firm Wood Mackenzie, said: “There is no real oil shortage in the short term.
Analyst Pierre Andurand said: “Oil price trends in 2021 are largely in the hands of OPEC, depending on how much supply they choose to release to the market.
I think the trend of oil prices in the next few years may be rising, but There are also many elements that may undermine its gains, including the pace of Iranian oil’s return and increased supply.
"
Curry believes that demand growth may begin to flatten out as early as 2025.
JPMorgan analysts believe that this super cycle will last for nearly ten years.
This week, U.
S.
crude oil once broke through the $60 mark.
On Wednesday (February 17), oil prices fluctuated and fell below $60.
Transfer from: Zhongcai.
com
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