Citi Forecasts Oil Price Drop to $60s by 2025
Citi predicts that oil prices will plummet to the $60s range by 2025 as inventories build following a tight market this summer, signaling a bearish outlook despite current robust demand and higher prices. Oil has recouped the losses from early June when the OPEC+ group's indication that it could begin returning some supply to the market in the fourth quarter sent bearish signals across the market. Early on Friday, the international benchmark, Brent Crude, traded above $85 per barrel, while the U.S. benchmark, WTI Crude, was above $82…