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<Research>Citi Predicts Brent Oil Prices to Fall Back to USD60 per Barrel in Next 6-12 Mths
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Oil prices are currently in a tug-of-war between increasingly bearish fundamentals and escalating geopolitical risks, Citi said in its research report. Because of OPEC+'s decision to phase out voluntary production cuts since this October, and assuming that Russian oil supply is restricted to 10.1 million barrels per day due to military conflicts and that Saudi oil supply will remain at 10.3 million barrels per day next year, Citi reiterated a forecasted decline in Brent oil future prices from end-2025 to 2026. Brent oil future prices are anticipated to fall back to USD65 per barrel in the next three months and to USD60 per barrel in the next 6-12 months. AAStocks Financial News |
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