Citi says Brent crude oil could fall as low as $50 / barrel ...Middle East

Citi forecasts oil prices could drop to $60 per barrel next year if OPEC+ doesn't increase production cuts.Then, from $60, prices could fall further to $50 before rebounding, influenced by financial flows.Geopolitical tensions are having minimal long-term impact on oil prices, with weaker rebounds after each spike.Markets now see these tensions as opportunities to sell during temporary price increases.Citi warns OPEC may lose market confidence in defending $70 oil if output cuts aren’t extended.Citi has issued similarly negative forecasts before, which have sometimes been wrong.In June, Citi predicted a $60 Brent crude by 2025, advising producers to hedge and investors to take short-term bea

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Citi says Brent crude oil could fall as low as $50 / barrel ...Middle East

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