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Max Layton, Citigroup’s global head of commodities research, expects the price of oil to average $60 next year as demand growth continues to slow. "The market's become, I would say, consensus bearish because the balances look so bad for 2025, in particular for the first half," Layton said on Bloomberg Television. Sign up for the Energy Daily newsletter, your guide to the energy and commodities markets that power the global economy, from journalists stationed around the world. https://bloom.bg/3VlGFMA -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: / bloombergtv Facebook: / bloombergtelevision Instagram: / bloombergtv Connect with Bloomberg Business on: X: / business Facebook: / bloombergbusiness Instagram: / bloombergbusiness TikTok: https://www.tiktok.com/@bloombergbusi... Reddit: / bloomberg LinkedIn: / bloomberg-news More from Bloomberg: Bloomberg Radio: / bloombergradio Bloomberg Surveillance: / bsurveillance Bloomberg Politics: / bpolitics Bloomberg Originals: / bbgoriginals Watch more on YouTube: Bloomberg Technology: / @bloombergtechnology Bloomberg Originals: / @business Bloomberg Quicktake: / @bloombergquicktake Bloomberg Espanol: / @bloomberg_espanol Bloomberg Podcasts: / @bloombergpodcasts