News summary
Citi forecasttarponfishIf oil prices hit US$90 to US$100, OPEC + may relax production cuts and set a soft cap for the oil market.
Newsletter text
[Citigroup predicts: If oil prices hit the US$90 -100 range, OPEC + may relax production reduction policy] Citibank's latest analysis points out that if international oil prices continue to climb to highs of US$90 - 100, the Organization of Petroleum Exporting Countries (OPEC) and its allies (collectively referred to as OPEC +) may consider relaxing existing production reduction measures and setting a relatively moderate upper limit for oil prices. The move aims to balance market supply and demand and prevent economic fluctuations caused by excessively rapid rise in oil prices. Citigroup's forecast undoubtedly provides important reference information for investors who are concerned about the global energy market.
