Citigroup maintains its forecast for Brent crude oil price at $70 per barrel in Q4 2026

Citi has released its outlook on the crude oil market, maintaining its Brent crude oil price forecast at $70 per barrel for Q4 2026 and projecting $65 per barrel for 2027. This judgment is based on expectations that, once the Suez Canal resumes normal operations, the crude oil market will return to a surplus, and the oversupply will be even more pronounced than it was before the current conflict.