Citi analyst Ed Morse says that oil prices at $90/barrel look "unsustainable" given that supply growth is expected to outpace demand growth outside OPEC and Russia. Morse also notes that oil could rise toward $100/barrel "for a short while" due to ongoing output cuts from Saudi Arabia and Russia. Citi expects oil to average $84 per barrel in Q4 2023 before falling to the low $70s per barrel range in 2024 driven by anticipated production increases from non-OPEC countries like the US, Brazil, Canada, and others.