13:51
On June 6th, Jinshi Data reported that Francisco Blanch, the head of Bank of America's commodity department, said that the OPEC+ agreement to restore supply has a somewhat bearish implication, but as always, the devil is in the details. The proposed supply increase will depend on whether the demand can bear it. If OPEC's estimate of demand is accurate, then it may proceed (to increase production). With inventory reduction, the crude oil market will be supported this summer. The possibility of market oversupply next year led to the initial sell-off. Bank of America maintains its forecast for Brent crude oil prices next year at $80 per barrel.

