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OIL: Brent to $60/bbl Range in 2025 on Sizable Market Surplus: Citigroup

OIL

Brent crude is expected to fall into 2025 amid economic concerns in the US and China, according to Citigroup.

  • The oil price could decline “down to the $60 range in 2025 as a sizable market surplus emerges”.
  • Brent could however see support at $70-72/bbl due to the OPEC unwinding delay, ongoing geopolitics and financial positioning.
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Brent crude is expected to fall into 2025 amid economic concerns in the US and China, according to Citigroup.

  • The oil price could decline “down to the $60 range in 2025 as a sizable market surplus emerges”.
  • Brent could however see support at $70-72/bbl due to the OPEC unwinding delay, ongoing geopolitics and financial positioning.