If a recession hits demand, oil prices could fall to $ 65 a barrel by the end of this year and to $ 45 by the end of 2023. Citigroup gave this view.
This outlook is based on the assumption that there will be no intervention by OPEC Plus oil-producing countries, which consist of OPEC and major non-member oil-producing countries, and that crude oil investment will decline, Francesco Martcha. , Ed Morse and other analysts pointed out in the report.
(Source: Bloomberg)
Perhaps this is affecting the situation, with crude oil falling sharply, US stocks falling, and the US dollar rising sharply today in a recession mood.
Crude oil has plummeted, so I didn’t buy CAD.
