Citigroup sees $60 oil before the end of 2021

World Oil | Sep 14, 2020 at 2:00 AM
  • Citigroup Inc. has a message to cheer up despairing oil bulls: prices will get back to $60 a barrel before the end of 2021.
  • The rate at which those stockpiles are shrinking appears to have slowed in recent weeks as the coronavirus proved stubbornly persistent and the OPEC+ alliance returned barrels to the market.
  • Commodity trading giant Trafigura Group, however, expects crude stockpiles to increase through the end of this year on weak demand.