Citi Raises Near-Term Brent Crude Forecast to $120
Citi analysts updated their oil price outlook, citing tail risks that could push Brent crude higher in the short term. The bank also provided longer-term base and bull case projections.
finance.yahoo.comCiti analysts stated that oil prices remain underpriced when accounting for potential tail risks. The bank raised its near-term forecast for Brent crude to $120 per barrel.
Citi forecast a 2027 base case range of $80 to $90 per barrel. The bank also outlined a bull case scenario reaching $150 per barrel. The updated outlook reflects Citi's assessment of supply and demand factors that could influence prices over the next several years.
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Energy companies may adjust production plans based on revised price expectations.
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