How Oil Prices Could Hit $65

Posted on AllSides July 5th, 2022
From The Center

Oil prices may tumble to $65 per barrel by the end of this year and to as low as $45 a barrel by the end of 2023 if the world enters a recession that would crash fuel demand, according to Citigroup.

The bank said in a report on Tuesday, cited by Bloomberg, that the assumptions for this forecast include a global recession, a lack of intervention by OPEC+ or some of its members to boost supply, and a drop in oil investments.

“For oil, the historical evidence suggests that oil demand...

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