We could see $60-per-barrel oil prices next year if OPEC+ fails to implement more production cuts, Citi said in a Wednesday note to clients, citing slowing demand and strong supply coming from non-OPEC producers. Further into its doomsday oil pricing, Citi said that once Brent crude prices drop to the $60 range, they could get pushed down further to $50 a barrel due to financial flows before rebounding.
Citi noted that geopolitical tensions are not having a huge, direct impact on oil prices. While geopolitical tensions have been temporarily…Citi Reiterates $60 Oil Price Forecast Amid “Bearish Trend”
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