Morgan Stanley Ups Oil Price Forecast On Supply Fears ...Middle East

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Morgan Stanley Ups Oil Price Forecast On Supply Fears
source : OILPRICE ( Middle East ) () 33
Morgan Stanley revised its oil price forecast upwards for the second half of the year by $10 per barrel, citing the greater than expected supply deficit resulting from Western sanctions against Russia. Bloomberg reported that the investment bank had estimated a supply gap of 1 million bpd in the third and fourth quarter, which would keep prices higher, with Brent seen averaging $130 per barrel during that period. Morgan Stanley also forecasted that the amount of Russian oil supply lost would be some 2 million barrels daily in both crude and condensates.…

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