Morgan Stanley lowers oil price forecast for next year

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According to the new Morgan Stanley forecast, the average price of Brent crude will be $77.5 per barrel in the period from the fourth quarter of this year to the end of the third quarter of next year and $80 per barrel in October-December 2019. Previously, the first indicator was expected at $85 per barrel, the second one – at $87.5 per barrel. The forecast on the cost of the WTI crude has been lowered to 68.5 dollars per barrel from 70 dollars per barrel and in the second half of next year – to 71 dollars per barrel from 80.5 dollars per barrel. The bank explained the change in the forecast downward by maintaining the supply of oil from the United States, OPEC countries, Russia and Libya at a level exceeding the expected volumes.

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