Two weeks ago Morgan Stanley lowered their Brent crude oil forecast to $80 / barrel. Now they’ve cut it even further:
now expecting an average $75 a barrel in Q4 of 2024
Citing demand headwinds:
“considerable demand weakness”signals are of “recession-like inventory builds”
On supply:
oil market to remain tight through Q3potential move into surplus by 2025
Brent update, a more or less sideways beginning to the week:
This article was written by Eamonn Sheridan at www.forexlive.com.
