Citi sees Brent crude at $60 by year-end as OPEC+ ramps up production

Citi analysts predict a drop in Brent crude oil prices. Prices may hit $60 per barrel by year-end. The average price is expected to be $62 per barrel between Q2 and Q4 2026. OPEC+ production increases and China’s stockpiling are factors. Global liquids inventories could climb significantly. A bear case scenario could see prices fall further.

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