Tag
OPEC+ OUTPUT
Nigerian crude fell early this week as OPEC+ signals a modest production increase for November and northern Iraq resumed exports, causing concerns about a growing oversupply despite high prices.
Citigroup analysts have forecast that Brent Crude oil could fall to $60 per barrel by year-end, averaging about $62 per barrel between the second and fourth quarters of 2026.
Crude oil prices dipped below $60 per barrel at the start of May, sparking renewed fears of a currency crisis and a wider fiscal deficit in Nigeria.