---
title: "In \"The Big Banks,\" Citibank expects oil prices to break through $80 per barrel in the short term"
description: "Citi published a report indicating that the geopolitical tensions surrounding Iran escalated over the weekend, which may cause oil prices to break through $80 per barrel in the short term. This is lik"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/277396099.md"
published_at: "2026-03-02T02:59:23.000Z"
---

# In "The Big Banks," Citibank expects oil prices to break through $80 per barrel in the short term

> Citi published a report indicating that the geopolitical tensions surrounding Iran escalated over the weekend, which may cause oil prices to break through $80 per barrel in the short term. This is likely a positive for Chinese oil companies, especially PetroChina and CNOOC, as they not only offer a dividend yield of 5-6% but can also serve as a low-cost inflation hedge. On the other hand, Chinese chemical stocks that have performed well recently may face downward pressure due to rising input costs

Citi published a report indicating that the geopolitical tensions surrounding Iran escalated over the weekend, which may cause oil prices to break through $80 per barrel in the short term. This is likely a positive for Chinese oil companies, especially PetroChina (00857.HK) and CNOOC (00883.HK), as they not only offer a dividend yield of 5-6% but can also serve as a low-cost inflation hedge. On the other hand, Chinese chemical stocks that have performed well recently may face downward pressure due to rising input costs

### Related Stocks

- [600938.CN - CNOOC](https://longbridge.com/en/quote/600938.CN.md)
- [159731.CN - ChinaAMC CSI Petrochemical Industry ETF](https://longbridge.com/en/quote/159731.CN.md)
- [561360.CN - Guotai CSI Oil & Gas Industry ETF](https://longbridge.com/en/quote/561360.CN.md)
- [159309.CN - China Universal CSI Oil & Gas Resources ETF](https://longbridge.com/en/quote/159309.CN.md)
- [00883.HK - CNOOC](https://longbridge.com/en/quote/00883.HK.md)
- [516570.CN - E Fund CSI Petrochemical Industry ETF](https://longbridge.com/en/quote/516570.CN.md)
- [561760.CN - Bosera CSI Oil & Gas Resources Index ETF](https://longbridge.com/en/quote/561760.CN.md)
- [601857.CN - PETROCHINA](https://longbridge.com/en/quote/601857.CN.md)
- [00857.HK - PETROCHINA](https://longbridge.com/en/quote/00857.HK.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.