Citi says oil could fall to $65 in a recession. Here's what that would mean for our stocks

The price of oil has pulled back considerably in recent weeks after such a strong start to the year, driven largely by concerns of a looming recession. Economic slowdowns, after all, have historically led to lower oil demand.

OPEC+ has agreed to increase oil output by 648,000 barrels per day in July and August – a larger-than-expected amount as the Ukraine war wreaks havoc on global energy markets.

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