Global Markets: “Oil to drop below $60 by summer” – Citi

aCiti’s Ed Morse says that U.S. shale is going to flood the market, pushing Brent prices into the $50s within a few months. Others disagree. Gary Ross, global head of oil analytics and chief energy economist at S&P Global Platts, told the WSJ that WTI could jump into the $70s later this year because of soaring demand.

Needless to say, analysts have a wide range of opinions about what to expect in the oil market over the next few quarters.