Oil prices are expected to stay in the mid-$80 range this summer, but increasing supply and slowing demand will bring down prices next year, according to...
Oil prices are expected to peak this summer before heading toward a steep decline in 2025, say Citi analysts.
"In our base case, we have 1.4 million barrels global oil stock building next year after a roughly balanced market this year," said Lee. "I think when the market sees that, that is bearish for the price." An aerial view of a crude oil storage facility is seen on May 4, 2020, in Cushing, Okla. Citi is known for its relatively bearish oil forecasts compared to the rest of Wall Street, though other analysts agree prices will likely decline next year.
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