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Citigroup has bucked the bullish oil price forecast trend in analyst circles, expecting oil prices to dip instead of rally further despite OPEC+’s efforts in that direction.
Citigroup believes oil prices will dip rather than rally as weaker-than-expected Chinese demand counters the recent OPEC+ cut.
Citigroup has bucked the bullish oil price forecast trend in analyst circles, expecting oil prices to dip instead of rally further despite OPEC+’s efforts in that direction. The bank’s commodity chief Ed Morse noted that China’s post-pandemic recovery ...
Meanwhile, CitiGroup takes a wait-and-see approach to China's recovery.
Oil fell in a low-volume session, unable to withstand a rising US dollar while investors waited for upcoming supply constraints to hit the market.