Domestic Oil Investors Back Permian Stocks as the Commodity Soars
Oil is already up 48% on the year. Goldman Sachs recently updated their Brent crude forecast to $80 per barrel. Bank of America strategist Francisco Blanch is calling for $100 oil. In the US despite a general economic malaise fuel demand has recovered. In the last month, supply reached almost 21 million barrels per day, which is around the pre-pandemic peak in 2019. This rising demand is meeting a shrinking…