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Morgan Stanley Cuts Brent Forecast to $75 a Barrel

Morgan Stanley has slashed its oil price forecasts for the next 18 month as it expects the reopening of the Strait of Hormuz to accelerate a new supply glut.

Source OilPrice AI Summary Updated 2h 22m ago

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Morgan Stanley has slashed its oil price forecasts for the next 18 month as it expects the reopening of the Strait of Hormuz to accelerate a new supply glut. The return of oil supply from the Middle East, combined with high U.S. oil exports and still weak Chinese crude purchases, will bring the market full-circle to a new glut in the coming months, accordin…

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