BofA: Oil Prices Could Hit $100 In 2022

Expectations that strong demand recovery would outpace supply in coming months could lead to oil prices briefly hitting $100 per barrel in 2022, BofA Global Research said in a note on Sunday, as carried by Reuters. “We believe that the robust global oil demand recovery will outpace supply growth over the next 18 months, further draining inventories and setting the stage for higher oil prices,” analysts at BofA wrote in the note, in which they significantly raised their price forecasts for average Brent Crude prices next  year.…