Hong Hao: Risk premium on oil prices may persist in the long term

Hong Hao said, what we are seeing now is not really in the realm of black swans anymore. Black swans themselves cannot be predicted, so it should be called the so-called "gray rhino". He believes that the risk premium of geopolitical policies cannot be eliminated. Even if a treaty is reached now, it may be overturned in a couple of years. This treaty is not enforceable, so the oil price risk premium will continue to exist in the long term, and oil prices will create a higher trading range.