Investors have high expectations for the global oil recovery because of the economic pick up in the U.S. — but those expectations could be “too optimistic,” according to energy analyst Vandana Hari.
“The U.S. rebound and the U.S. leaving behind all Covid restrictions almost … dramatically, starting in April and May, has taken the markets by surprise,” said Hari, founder and chief executive officer of Vanda Insights. “But that has also set expectations on a slightly different, more optimistic path,” she told CNBC’s “Street Signs Asia” on Friday.
Multiple states in the U.S. have lifted Covid restrictions and a sense of normalcy has somewhat returned in the country.
“The U.S. macroeconomic indicators, the mobility indicators — are all going gangbusters,” she said. A relatively high vaccination rate has been an important part of the U.S. reopening. As of July 3, more than half the population — or 54.45% — has received at least one vaccine doses, according to Our World in Data.
