Institution: High oil prices will persist

Mars Finance reports that on April 14, ANZ Bank strategists Daniel Haines and Sony Kumari said in a report that high oil prices will persist. They estimate that, due to the Iran war, about 10 million barrels of oil disappear from the market each day, which differs from their January baseline data. The recovery of supply is expected to proceed slowly, incompletely, and unevenly before mid-2026. They added that, to ease this tension, there needs to be either a severe shock to global demand or a rapid, coordinated response on the supply side. For now, the tightness of market supply alone is enough to keep crude oil prices at historical highs, even without the worst-case escalation of the conflict. As the conflict continues, high oil prices will become even more deeply entrenched. ANZ Bank has raised its crude oil forecast, expecting Brent crude oil prices to stay above $90 per barrel for the remainder of this year. (Jin10 Data APP)