Crude View: D-Street experts peg Brent at $75-80 in near-term, Morgan Stanley cuts forecast by $5 on soft demand | Stock Market News
Source: Live Mint
Recent global developments leading to ample supplies amid weaker demand prospects have pushed Brent oil prices to lows of ~USD71/bbl. While upstream earnings are currently impacted, with the OPEC+ delaying its planned rise in production, we expect oil prices to rebound to USD75-80/bbl in the near term. Thus, net oil realization should bounce back to ~USD75/bbl. Additionally, APM price is set to rise in FY26E and gas produced from new wells would attract premium pricing. These bode well for upstream players.
Morgan Stanley on Monday cut its Brent crude oil forecasts for coming quarters and said the global oil market is facing a period of demand weakness similar to those seen during recessions.
