Latest News

Morgan Stanley ups H2 2025 Brent view to $70 after OPEC+ choice

Morgan Stanley bumped up its Brent rate view for the 2nd half of 2025 and said it now expects a. smaller oil market surplus for the year following a decision by. OPEC+ oil producers to delay and slow prepare for higher output.

The bank raised its Brent rate forecast for the 2nd half. of 2025 to $70 from $66-68 per barrel in a note dated Dec 5.

On Thursday, OPEC+, which groups the Organisation of the. Petroleum Exporting Countries and allies consisting of Russia,. delayed the start of oil output boosts by three months. till April.

It likewise stated the cuts would occur up until September 2026,. 9 months later than previously planned.

The bank lowered its quote for OPEC-9 (OPEC members minus. Iran, Libya and Venezuela who are exempted from output curbs). production by 400,000 barrels each day (bpd) for 2025, and by. 700,000 bpd by the 4th quarter of next year.

It likewise cut its price quote for Iran's production by about. 100,000 bpd through 2025.

In aggregate, this reduces our estimated surplus in 2025. from 1.3 to 0.8 million bpd in our overall liquids balance, and. from 0.7 to 0.3 million bpd in our crude-only balance.

Brent crude futures were trading near $71.88 per. barrel on Friday, while U.S. West Texas Intermediate crude. futures were near $68.15.

(source: Reuters)