Morgan Stanley expects help for Brent crude oil within the mid $80s.
Analysts on the agency responsd to the OPEC+ settlement. They assess that the output cuts took a very long time to barter, and whereas they’re nonetheless not a part of the formal quota, and solely restricted dedication by members of the cartel is being proven (Angola, for example), even partial compliance needs to be sufficient to stop stockpile builds in Q1 of 2024.
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This text was written by Eamonn Sheridan at www.forexlive.com.
