Citi(US:C) Zhi Tong Cai Jing·2025-11-21 02:33Group 1 - Citigroup's report indicates that Saudi Arabia and OPEC+ have been gradually lifting oil production limits since April, leading to increased market supply, aligning with President Trump's long-standing push to lower energy prices [1] - The report forecasts a weak global crude oil market in the coming quarters, with Brent crude prices expected to hover around $60 per barrel at least until the U.S. midterm elections next year [1] - Prices above $60 per barrel are likely to encourage OPEC+ to continue increasing production, with Saudi Arabia expected to play a key leadership role in stabilizing market supply and demand [1] Group 2 - Citigroup further notes that as the Trump administration prepares for the 2025 midterm elections and addresses economic pressures from high domestic interest rates, the focus may shift towards lowering overall commodity prices [2] - The report suggests that achieving this goal may involve pushing to end the Russia-Ukraine war; if unsuccessful, the U.S. may exert greater diplomatic pressure on OPEC+ to increase production and lower international oil prices [2] - The future direction of the oil market will depend on geopolitical developments, OPEC+ production strategies, and changes in U.S. domestic policies, necessitating close monitoring of actions from major oil-producing countries and U.S. policy signals in the global energy market [2]