Citigroup Oil Price Projections Through Q1 2025

Tina Collins

Oct 16, 2024

Citigroup projects an average Brent crude oil price of $74 per barrel by the end of 2023.

The bank anticipates prices will drop to $65 per barrel in Q1 2025.

Ongoing Middle East tensions could drive prices up to $120 per barrel due to concerns over supply disruptions from potential conflicts between Israel and Iran.

If OPEC Plus increases oil production in December, prices could fall to $60 per barrel in late 2023 and stabilize at $55 in early 2024.

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Global Chip Stocks Decline After ASML’s Disappointing Outlook

Gold Prices Rise Towards New Record High Amid Geopolitical Tensions

Gold Price Forecast: XAU/USD Holds Gains Around $2,660

Gold Approaches $2,685 Record High