Energy

Market expectations for recovery too optimistic, analyst says

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Oil well pump jacks operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021.

David Paul Morris | Bloomberg | Getty Images

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…



Source cnbc.com

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