CIMB Securities analysts suggest global crude oil prices may remain elevated, exceeding levels seen before recent supply disruptions. This projection stems from anticipated inventory rebuilding efforts by various countries. Following recent disruptions to oil supply chains, nations are likely to replenish their strategic reserves, boosting overall demand. This increased demand is expected to provide a floor for crude prices, preventing a significant decline. The report indicates that this restocking activity could be a key factor in stabilizing and potentially increasing oil prices in the near term. The Kuala Lumpur-based firm believes this dynamic will counteract some of the downward pressure previously anticipated in the market.
