Date: 4 months ago   Category: Financial

Morgan Stanley lowered the forecast of prices of oil


The cost of Brent oil will not exceed 65 dollars for barrel in the next two years, analysts consider. Analysts of Morgan Stanley bank lowered the forecast of cost of oil in 2019 for 7-7.5 dollars for barrel, Interfax on Wednesday, January 9 writes. Analysts expect that oil of a grade Brent will cost an average in the first quarter of $58 for barrel against earlier assumed $65 for barrel. Assessment on the second quarter makes $60 for barrel, on the third quarter - $62.5 for barrel and on the fourth quarter - $65 for barrel. These forecasts were lowered for $7.5. Morgan Stanley expects that the average price of the WTI brand in January-March will be about a mark of $49 for barrel that it is $7 worse than former assessment. The forecast for April-June makes $52 for barrel, for July-September - $55 for barrel and for October-December - $58 for barrel. According to analysts, the oil market looks "in general balanced in 2019" that allows to count on some restoration of quotations from the current levels. In 2020 experts predict the average price of Brent around $65 for barrel and WTI - $58 for barrel. According to them, any rally will be limited at the cost of $65 for barrel, including because of reduction of import of oil to China and falling of a share of OPEC in the global market. History shows that quotations seldom grow at the moments of decrease in a share of cartel in the world market. Meanwhile prices of oil grow the eighth session in a row, having exceeded 60 dollars for barrel. As of 16:40 the cost of March futures for the North Sea mix grew for 3.03% - up to 60.5 dollars for barrel. The price of February futures for WTI grew for 3.42% - up to 51.48 dollars for barrel. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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