The Strategist

Morgan Stanley: Brent will rise to $ 50 in 2021


09/10/2020 - 03:36



Brent crude will rise to $ 50 a barrel in the second half of 2021 on the back of a weaker dollar and higher inflation.



pikist
pikist
This forecast was presented by analysts of the American bank Morgan Stanley on September 9. The price of WTI crude oil will also rise in the third quarter of 2021 to $ 47.5 per barrel.

"The unprecedented expansion of the money supply weakens the dollar and puts upward pressure on inflation," says Morgan Stanley. The bank also predicts a permanent supply shortage over the next year and expects stocks to bounce back by the end of 2021 amid the global economic recovery.

Morgan Stanley has pushed back the date of reaching pre-COVID-19 levels of oil demand - from the end of 2021 to mid-2022. The short-term prospects, according to the bank's analysts, look rather weak due to the weak recovery in demand, large reserves and low refining margins.

source: bloomberg.com




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