Morgan Stanley, Goldman Sachs, Citi forecast oil price falling in Q4 and 2025

Tuesday, September 10th 2024 - 08:12 UTC

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Investment bank Morgan Stanley has again cut its forecast price for a barrel of oil, expecting the international benchmark to average US$ 75 a barrel in the last quarter of the year. This is because analysts at Morgan Stanley see rising headwinds on the demand side, which has been their key reason for cutting their Q4 oil price forecast. Read full article

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Jeff12
Oil, is the lifeblood of our modern lifestyle. At $70 a barrel this is the bargain of a lifetime!!
Sep 10th, 2024 - 03:39 pm - Link - Report abuse -1
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Pugol-H
Production cuts will not be popular with OPEC members, but they may have no choice.

Lower prices will particularly impact Venezuela and Russia and to a slightly lesser extent Iran, all countries desperate for money.

Venezuela being essentially bankrupt with Russia and Iran having wars to fund.

Good for China though, a lower imported oil bill and increased exports of dual use components to place like Russia and Iran.
Sep 11th, 2024 - 01:09 pm - Link - Report abuse 0
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Jeff12
Lower price hurts the largest oil producing nations. US first. Russia second. Deep OPEC cuts should help.
Sep 11th, 2024 - 02:58 pm - Link - Report abuse 0
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