{"id":504012,"date":"2022-07-07T12:39:02","date_gmt":"2022-07-07T07:09:02","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=504012"},"modified":"2022-07-07T12:39:02","modified_gmt":"2022-07-07T07:09:02","slug":"recession-citi-says-oil-may-collapse-to-65-by-year-end","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/recession-citi-says-oil-may-collapse-to-65-by-year-end\/","title":{"rendered":"Recession: Citi says oil may collapse to $65 by year-end"},"content":{"rendered":"<p>Crude oil prices could crash to $65 a barrel by the end of this year and $45 by the end of 2023 if a recession hits the world economy, analysts at Citi said in a report.<\/p>\n<p>The benchmark Brent crude is trading at $101.9 per barrel at present, after shooting up to $128 in early March because of the Ukraine war. It was prevailing at around $97 a barrel before Russia\u2019s invasion of Ukraine.<\/p>\n<p>Rising Covid infections in China coupled with fears of a recession in the US and Europe as central banks takes aggressive rate hike actions to quell inflation have seen its prices softening recently.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices could crash to $65 a barrel by the end of this year and $45 by the end of 2023 if a recession hits the world economy, analysts at Citi said in a report. The benchmark Brent crude is trading at $101.9 per barrel at present, after shooting up to $128 in early March because of the Ukraine war. It was prevailing at around $97 a barrel before Russia\u2019s invasion of Ukraine. Rising Covid infections in China coupled with fears of a recession in the US and Europe as central banks takes aggressive rate hike actions to quell [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,215,148],"tags":[],"class_list":["post-504012","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-telegraph","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=504012"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504012\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=504012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=504012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=504012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}