Reported about 1 month ago
Morgan Stanley has cut its Brent crude price forecast for the second time recently, now predicting an average of $75 per barrel for the fourth quarter, down from a prior forecast of $80. This adjustment comes as concerns mount over weaker demand, especially from China, and ample oil supplies, leading to reduced projections for next year as well. Other banks, including Goldman Sachs and Citigroup, have also expressed similar outlook adjustments, citing an oversupplied market.
Source: YAHOO