The bank sees fuel demand for aviation, transport and infrastructure construction surging in the coming two years, which in turn could push oil prices to hit triple digits.
“You’ve already had record-high demand right before this latest variant and you’re adding higher jet demand and the global economy is still growing,” Goldman’s head of energy research Damien Courvalin said, according to Reuters. “You’ll see how we will average a new record high in demand in 2022, and again, in 2023,” he added.