Citi says oil prices could crash below $60 a barrel in 2025
Citi analysts predict a drop in oil prices, with a forecast of $60 per barrel in 2025. This represents a potential decline of over 20% compared to current market expectations.is $82/bbl before prices head lower during 4Q and into 2025 when we expect them to settle at $60/bb," states the Citi note.
The bearish outlook for oil stems from an expected surplus in the global market by 2025, even with production cuts from OPEC+. Citi analysts recommend that oil producers"hedge" against potential price drops and that investors view any short-term price increases as an opportunity to take bearish positions., anticipating a price increase to $12,000 per tonne by 2025.
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