Oil set for steady gains as economies shake off pandemic blues
Source: Reuters
The survey of 55 participants forecast Brent crude would average $59.07 per barrel in 2021, up from last month’s $54.47 forecast.
This is the biggest month-on-month upward revision for the yearly forecast in Reuters polls going back until at least 2016.
Brent has averaged around $58.80 so far this year.
“Travel and leisure activity look set to catch up to buoyant manufacturing activity due to the mix of stimulus, confidence, vaccines, and more targeted pandemic measures,” said Norbert Ruecker of Julius Baer.
“Against these demand dynamics, the supply side is unlikely to catch up on time, leaving the oil market in tightening mode for months to come.”
Oil set for steady gains as economies shake off pandemic blues: Reuters poll
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Oil set for steady gains as economies shake off pandemic blues: Reuters poll
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What next: Life after the pandemic
Gulf News talks to experts at Julius Baer on how the world will look post the pandemic In association with Image Credit: Gulf News
Gulf News spoke to Julius Baer, the Swiss Wealth Manager, on the world after the corona crisis. All in all, the general trend is that the crisis accelerates existing structural trends rather than creating new ones. The world will nevertheless look different, but neither as much as we hope nor as much as we fear.
Making healthcare resilient
Dr. Damien Ng, Thematic Analyst
The coronavirus crisis accelerates existing structural trends rather than creating new ones. It should also have long lasting impacts on economics, politics, globalisation, society, healthcare, governments to name a few. Let’s take a closer look at healthcare – because it is most topical. The biggest issue with healthcare is that costs have been rising rapidly for years, primarily in the developed countries