Brent oil price forecast cut to $68.50/bbl from $78.50 for 2019 – Morgan Stanley

Analysts at Morgan Stanley made downward revision to their Brent oil-price forecast for 2019, with the key highlights found below.

Cut their Brent oil-price forecast to $68.50/bbl from $78.50.

Concede OPEC+ agreement reduced the likelihood of an oversupplied market in H1 2019.

But expect upside will be limited.

Oct 2018 highs unlikely to be seen again in the quarters ahead.