Citi's Morse Says Brent Will Continue 'Downward Drift' to Mid $80s

The video discusses the current global demand dynamics, highlighting the lack of demand growth in Europe and worldwide due to high prices and a strong dollar. It examines the impact of COVID-19 on jet fuel demand, particularly in China, and forecasts a potential increase in demand if international travel resumes. The video also provides projections for oil prices, expecting them to drift downward into 2023.

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What is the base case prediction for oil prices by the end of the year?