Bank of America Still Bullish on Oil in Face of Omicron Variant
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Bank of America is sticking to its $85-a-barrel forecast for oil in 2022, with possible surges past $100 if air travel rebounds.
The omicron variant of the coronavirus could “dislocate the trajectory a bit from recovery but we don’t know how it will play out,” Francisco Blanch, the bank’s head of commodities, said in a presentation Wednesday.