“Citi Has a Message for Oil Bulls: $60 Oil to Return by 2021”
September 14, 2020
“Citigroup Inc. has a message to cheer up despairing oil bulls: prices will get back to $60 a barrel before the end of 2021…
It will take until late 2021 for global oil consumption to return to the 2019 level of 101 million barrels a day due to growth in economy, Morse said. Citi sees global benchmark Brent crude, which is currently trading near $40 a barrel, averaging around $55 in 2021 before getting back to the $60 mark by the end of the year. West Texas Intermediate will recover to $58 by then…”
https://finance.yahoo.com/news/citi-message-oil-bulls-60-081350647.html