Morgan Stanley Sees Slower Oil Stockpile Build and Keeps Brent Outlook at $65 ...Middle East

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Morgan Stanley Sees Slower Oil Stockpile Build and Keeps Brent Outlook at $65
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Morgan Stanley expects OECD oil inventories to rise by no more than 165 million barrels over the next 12 months, maintaining its Brent crude forecast at $65. The firm said the pace of accumulation is easing, with Asian demand holding steady and fewer strategic reserves being filled than earlier in the year. The view stands in contrast to broader market concerns over mounting global inventories following recent OPEC+ production increases. But analysts say most of the build has occurred outside OECD countries. The Edge Malaysia reported that only…

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