Wed Sep 11 09:42:10 UTC 2024: ## Oil Prices Expected to Average $60 Next Year, Driven by Demand Growth
**New York, NY** – Citigroup’s global head of commodities research, Max Layton, has predicted that oil prices will average $60 per barrel next year, citing robust demand growth as the driving force.
Layton’s forecast anticipates a continued upward trend in oil prices, fueled by a global economic recovery and increased demand for energy. This optimistic outlook contrasts with concerns over potential recessions and weakening economic activity.
Citigroup’s analysis suggests that despite the potential for economic headwinds, the robust demand for energy will outweigh any negative impacts, leading to sustained price growth.
While the specific factors influencing this prediction were not detailed, Layton’s forecast highlights the ongoing importance of oil in the global economy and the potential for continued volatility in the energy market.
First Piper 