Two banks—Citi and Barclays—raised their oil price forecasts on Monday, citing the effects of Russian crude oil sanctions and delays in the renewal of the Iran nuclear deal—without which there will be no meaningful increase in crude oil exported from Iran. Citi Research raised its oil price forecast due to heavy delays in securing another Iranian nuclear deal, which will contribute to the tight market conditions for crude oil.
Citi now sees sanction relief for Iran coming in the first quarter of 2023, adding 500,000 bpd in the…Citi And Barclays Raise Oil Price Forecasts
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