# Crude oil prices may fall towards $70 in 2027, offering support to rupee, says Citi - CNBC TV18

> Citi expects crude oil to fall toward $70 a barrel in 2027, assuming a resolution to the West Asia conflict by end-2026 or early 2027. Lower prices would ease Strait of Hormuz shipping disruption and freight and insurance costs. Citi also projects a balance-of-payments deficit of about $12 billion in the second half of FY27.

- Date: 2026-11-03 · published 2026-11-04T00:14:11.468Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/78626-crude-oil-prices-may-fall-towards-70-in-2027-offering-support-to-rupee-says
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A sustained fall in crude would reduce energy and freight costs across feed supply chains and support the rupee. The forecast is a bank outlook, so the price path remains uncertain.

## Read by commodity

- BRENT: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-12-01 | [Indian rupee rises 17 paise to 70.62 on easing crude prices](https://feedsoft.ai/events/62326-indian-rupee-rises-17-paise-to-70-62-on-easing-crude-prices.md) | +6.0% | -10.4% |
| BRENT | 2020-02-27 | [Rupee strengthens against USD amid easing crude oil prices](https://feedsoft.ai/events/54861-rupee-strengthens-against-usd-amid-easing-crude-oil-prices.md) | -5.0% | -51.1% |
| BRENT | 2019-09-18 | [Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices - India Today](https://feedsoft.ai/events/57383-rupee-stems-losses-rallies-54-paise-to-71-24-vs-usd-on-easing-oil-prices-india.md) | -2.2% | -9.4% |
| BRENT | 2023-07-04 | [Why are OPEC+ supply cuts failing to boost oil prices?](https://feedsoft.ai/events/34941-why-are-opec-supply-cuts-failing-to-boost-oil-prices.md) | +4.3% | +14.5% |
| BRENT | 2017-07-21 | [Oil prices sink on a report OPEC supply will rise in July](https://feedsoft.ai/events/70144-oil-prices-sink-on-a-report-opec-supply-will-rise-in-july.md) | +4.4% | +3.6% |

## Sources

- cnbctv18.com: https://www.cnbctv18.com/economy/crude-oil-prices-may-fall-towards-70-in-2027-offering-support-to-rupee-says-citi-20025777.htm

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.