Citi Raises Brent Forecast to $80, Expects Slump in 2027

THISDAY Aug 11, 2026 · 00:00 WAT

Citigroup has raised its Brent crude forecast for the third quarter to $80 per barrel from $75, citing prolonged US-Iran conflict-related supply disruptions. The bank also expects oil prices to slump in 2027, a development relevant to Nigeria’s listed oil and gas sector.

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