FXStreet reports that Ed Morse, Citibank’s Global Head of Commodities Research, said in his latest client note that oil prices remain exposed to further upside risks despite the OPEC and allies (OPEC+) deal to boost oil supplies.

“The market is very tight, supply increase of 400k bpd will turn out to be a pittance.”

“Demand is significantly higher.”

“Oil prices likely to climb much further by the time summer is over.”