ANZ sees a scenario where oil prices could return to $100 per barrel

And that in turn would lead oil prices to push higher to $100/BBL. On the flip side though, ANZ is arguing that should OPEC+ choose to remove production cuts, their fair value model would suggest that prices could fall to as low as $75/BBL. For now though, they are seeing the oil market move into a deficit stage next. That is the basis for their forecast of $90/BBL for the second half of this year.