Morgan Stanley lowered its oil forecast to $31.

Home / Morgan Stanley / Morgan Stanley lowered its oil forecast to $31. FORECAST

Morgan Stanley lowered its forecast for oil price on Feb 4. According to the analyst Adam Longman, the weaker-than-expected demand, higher-than-expected supply, rising inventories postpone the rebalancing process and thus prevent prices to move higher thereafter. Morgan Stanley now estimates a price of Brent oil to be $31 in first quarter and $30 in the second and third quarters. The earlier targets were $42, $45, $48 respectively.

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