Citi Rebuffs Calls for $100 Oil as Goldman Lifts Outlook on OPEC Cut

 

• Market isn’t ‘anywhere near’ that kind of rally, Morse says
• Some analysts are again targeting $100 after surprise OPEC cut

Citigroup Inc.’s Ed Morse, the global head of commodities research, said the oil market would need a lot more uncertainty over supplies before prices could reach $100 a barrel.

“There is a scenario for $100 a barrel oil. But I don’t think we’re anywhere near that yet,” Morse said in an interview on Bloomberg Television. 

https://www.bloomberg.com/news/articles/2023-04-03/citi-rebuffs-calls-for-100-oil-as-goldman-lifts-outlook-on-opec-cut