Yahoo Finance If producer group OPEC+ doesn’t reduce production further, the average price of oil could drop to $60 per barrel in 2025 due to reduced demand and increased supply from non-OPEC countries, Citi said in a note on Wednesday. Citi said that while a technical rebound was possible, the market could lose confidence in OPEC+ defending the $70/bbl level
Oil Price There is no large international bank without a net-zero plan. These plans invariably include curbs in lending to the oil and gas industry. Yet despite these plans. Most of the world’s top lenders continue doing business with the oil industry—and they’ve been doing more of it lately. The revelation comes from the 15th annual Banking on Climate Chaos report authored by
Oil Price Merger and acquisition activity in the United States oil and gas industry last year slumped to the lowest in 17 years as buyers became pickier. But besides being picky, they were also willing to spend, Enverus reported earlier this week. Now, Citi analysts are suggesting they may get even more generous with acquisitions. BP and Shell, the European supermajors, could
CNBC Global stock markets have started this week with a bounce, as hopes that the coronavirus pandemic may be peaking drove investors back into risk assets following a historic downturn. However, Citi strategists have suggested that the rally is nothing more than an “aftershock” and is not underpinned by volume or any guarantees of an end to the outbreak. Jimmy
CNBC The cost of producing electricity from solar energy has in the last two years been lower than that of fossil fuels — and that “permanent change” will limit how high oil prices can climb, according to Citi. That shift is coming at a time when global oil supply is running ahead of demand, which is already weighing down on energy
From Bloomberg Citigroup Inc. has a warning for U.S. oil investors: American crude prices may tumble to the steepest discount against global benchmark Brent since 2013. West Texas Intermediate futures in New York will fall further to become as much as $15 a barrel cheaper than London’s Brent, said Ed Morse, the bank’s global head of commodities research. That’s because
