November 26, 2024 08:33 GMT
OIL: Supply/Demand Balances Not Supportive of OPEC+ Cuts: Citi
OIL
Citi analysts say their supply/demand balances see no scope for OPEC+ to reverse production cuts in 2025.
- Its analysts added that they see enough Permian capacity to support 2-3mbpd of liquids growth leaving OPEC+ with another 3-4 years of needing to accommodate the growth to defend prices.
- Citi analysts said that overcapacity in the global oil markets mean there is little room for either commodity price or asset price inflation.
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