TRUDEAU SAYS IT LOOKS LIKE BOC WILL BE LOWERING RATE AGAIN

MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: Geopolitical Risk Boosts Q4 Forecast but Surplus in 2025: Morgan Stanley

OIL
BulletEnergy BulletsCommodities

Morgan Stanley has raised its Brent Q4 price forecast from $75/bbl to $80/bbl with near term support amid heightened geopolitical risk, according to Bloomberg.

  • However, oil supply balances continuing to weaken due to softer than expected demand while supply remains robust.
  • The oil market surplus forecast for 2025 has increased to 1.3mb/d compared with a previous estimate of 700kb/d.
  • The Q1 2025 forecast has been adjusted up from $75/bbl to $77.5/bbl but H2 2025 has been lowered from $75/bbl to $72.5/bbl in Q3 and $70/bbl in Q4 2025.
85 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Morgan Stanley has raised its Brent Q4 price forecast from $75/bbl to $80/bbl with near term support amid heightened geopolitical risk, according to Bloomberg.

  • However, oil supply balances continuing to weaken due to softer than expected demand while supply remains robust.
  • The oil market surplus forecast for 2025 has increased to 1.3mb/d compared with a previous estimate of 700kb/d.
  • The Q1 2025 forecast has been adjusted up from $75/bbl to $77.5/bbl but H2 2025 has been lowered from $75/bbl to $72.5/bbl in Q3 and $70/bbl in Q4 2025.