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Commodities Briefing - Categorized | Market Moves, Oil more

Global oil supply ready to grow: Morgan Stanley

Posted on 28 November 2013

Well, this would be good news for the global economy if it bears out. The potential for an expanding global crude oil supply is “greater than at any point in recent memory, leaving the outlook for oil prices skewed to the downside over the next few years.”
That’s according to Morgan Stanley commodity strategists Adam Longson and Alan Lee, who this morning forecast Brent crude oil’s price to average $103 a barrel during 2014 before falling to $98 during 2015. Over this period, non-OPEC crude growth should “far outpace demand,” they write:……………………………………….Full Article: Source


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