全球大宗商品-2026 年地缘政治将加剧油价波动：OPEC 闲置产能缓冲上行空间，和平协议或引发通缩-Global Commodities Geopolitics to drive oil volatility in 2026 OPEC spare capacity buffers the upside peace deals can drive deflation

Citi Research February 16, 2026 Geopolitics, politics, to drive the oil market in 2026 - OPEC+ spare capacity buffers the upside, 'peace deals' can drive substantial downside Maximilian Layton AC Global Head | Commodities max.layton@citi.com +44 20 7986 4556 Anthony YuenAC Energy Head anthony.yuen@citi.com +852 2501 2731 Francesco MartocciaAC Energy Strategy francesco.martoccia@citi.com +39 02 8906 4571 Eric G. LeeAC Energy Strategy eric.g.lee@citi.com +1 212 723 1474 Arkady GevorkyanAC Commodities Strategy ...