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Trump Administration Would Raise Chance of $60/bbl Oil: Citi

OIL

A Trump administration would raise the potential for $60/bbl crude in 2025 according to Citigroup.

  • Renewed trade tensions with China and Europe could hit oil demand. “Tensions would further hit already-weak global trade, hitting trucking and thus diesel demand.”
  • The trend for oil and gas production is unlikely to be affected despite “pro-fossil fuel rhetoric.”
  • “If a resolution to the Russia-Ukraine conflict could come sooner, this could be bearish oil and gas markets.”
  • “A warmer US-Saudi relationship might mean OPEC+ brings more oil back to market.”
  • Tighter sanctions on Iran and a potential clamp down on Venezuela would be bullish for oil.
Energy BulletsCommodities
Energy BulletsCommodities

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