Due to concerns about demand outlook, Goldman Sachs has reduced its Brent crude price forecast range by $5 per barrel to $70-85. Similarly, Morgan Stanley has lowered its Q4 Brent crude price estimate by $5 to $80 per barrel and has revised down its global demand growth forecast from 1.2 million barrels per day to 1.1 million barrels per day.
Jeff Currie, a former renowned commodity analyst at Goldman Sachs, ...