Reported about 1 month ago
Morgan Stanley has again revised its oil price forecast, predicting that Brent crude will average $75 per barrel in Q4 2024 due to significant demand weakness and ongoing price declines. The firm noted that current market conditions are reminiscent of recession-like trends, prompting adjustments along with similar moves from other financial institutions influenced by decreased demand from China. This shift has contributed to a fall in US gasoline prices as well.
Source: YAHOO