Morgan Stanley revises Brent crude oil price forecast downwards again - concerns about deteriorating supply and demand intensify.
September 9, 2024, 14:27 JST (excerpt)
Average Brent crude oil price for October-December is expected to be $75 per barrel - previously forecasted at $80.
The recent trajectory of crude oil prices is similar to other periods when demand was significantly weak.
Morgan Stanley has downwardly revised its outlook for the Brent crude oil market. This is the second time in the past few weeks that they have lowered their forecast. While supply remains abundant, there are numerous issues surrounding demand.
According to a report by analysts including Martijn Rats, the average Brent crude oil price for the October-December (Q4) period is expected to be $75 per barrel. Last month, the forecast for the same period was lowered from $80 to $75, down from the previous forecast of $85. The forecast for most of next year has also been slightly downwardly revised.
Average Brent crude oil price for October-December is expected to be $75 per barrel - previously forecasted at $80.
The recent trajectory of crude oil prices is similar to other periods when demand was significantly weak.
Morgan Stanley has downwardly revised its outlook for the Brent crude oil market. This is the second time in the past few weeks that they have lowered their forecast. While supply remains abundant, there are numerous issues surrounding demand.
According to a report by analysts including Martijn Rats, the average Brent crude oil price for the October-December (Q4) period is expected to be $75 per barrel. Last month, the forecast for the same period was lowered from $80 to $75, down from the previous forecast of $85. The forecast for most of next year has also been slightly downwardly revised.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
