Citi Maintains 2Q25 Oil Price Forecast at $68/bbl
ReutersApr 3, 2025 7:19 PM
April 3 (Reuters) - CITI RESEARCH:
SEES BASE CASE OIL PRICE OUTLOOK UNCHANGED AT $68/BBL FOR 2Q25
REITERATES QUARTERLY PRICE FORECASTS AT $68/BBL, $65/BBL, AND $60/BBL ON A BRENT BASIS"
SAYS "SANCTIONS ON IRANIAN, VENEZUELAN, EVENTUALLY RUSSIAN OIL PURCHASES ACT TO TIGHTEN OIL SUPPLY, THEREBY OFFSETTING IMPACTS FROM GOODS TARIFFS"
EXPECTS FLAT 10% BLANKET TARIFF ALONE COULD TO SHAVE THEIR 2025 GLOBAL OIL DEMAND GROWTH ESTIMATES TO 0.6-MB/D Y/Y FROM 0.9-M B/D Y/Y CURRENTLY, WITH FURTHER DOWNSIDE RISKS IN CASE OF RETALIATION
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