Citi Says Oil to Collapse to Low $70s in 2024

<p><a href="https://www.bloomberg.com/news/articles/2023-10-02/oil-latest-halliburton-ceo-sees-market-tightening-further#:~:text=Citi%20Says%20Oil%20to%20Collapse,said%20in%20a%20quarterly%20report%20." target="_blank" rel="nofollow">Bloomberg (is gated)</a> reported on Citi's view that the price of oil will fall sharply in 2024:</p><ul><li>Brent crude will collapse to the low $70s a barrel next year</li><li>global oil market to swing back to a surplus</li><li>shift reflects “more oil coming into the market,” </li><li>“Higher prices in the near term could make for more downside for prices next year”</li></ul><p>That would be a big swing indeed. </p><p>Owners of V8 <a href="https://www.forexlive.com/news/why-jdm-cars-and-perhaps-even-the-yen-look-about-to-get-cheaper-20231001/" target="_blank" rel="follow" data-article-link="true">JDM cars</a> will be happier (cough). </p>

This article was written by Eamonn Sheridan at www.forexlive.com.