As per the trusted sources of information, the investors have been expecting huge gains from the global Oil recovery owing to the economic pick up in the US, but as stated by the energy analyst Vandana Hari, the investors might be way too optimistic to it.
Hari, the founder and CEO of Vanda Insights further added that the markets have witnessed huge gains starting from the month of April and May owing to the rising vaccination rate and low rate of people being infected by the disease post the pandemic. She further added that the condition of US rebound has set slightly more expectations on an optimistic path.
High vaccination rate in the country has been an important factor in the reopening of the US. As per the statistics of 3rd July, more than 54.45% of the population has received the first dose of vaccination as per the data given by the Our World in Data. Hari stated that the Oil market can be used as a model to refer what is going to happen in the rest of the world after the pandemic is over.Even if the rich countries are witnessing a decline in number of cases, the pandemic is still not over in several poorer and developing nations of the world.