Citi has trimmed its Brent crude price forecast for 2026 to $62 a barrel from $65, citing expectations that OPEC+ will unwind around 1.6 million barrels a day of production cuts while non-OPEC supply rises strongly.
The bank said Chinese stockpiling and OECD inventory builds will provide some support to prices, helping to limit downside risk.
Info comes via a Wall Street Journal report on Citi's forecasts
