Due to this tightening global oil supply, experts at the Bank of America have predicted a 43% increase in oil prices.
Meanwhile, US crude oil production is still struggling to recover from the pandemic’s effects as OPEC producers continue their gradual increase in oil production. In light of this, the BOA forecast includes expectations that the price per barrel of oil will reach $100 over the next few months.
AGYP recently announced signing a new lease and struck oil on their leased well sites located in Texas. With global energy prices at 7 year highs and with the need for more domestic energy growing apparent, AGYP and its US based exploration projects are perfectly positioned.
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