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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
July 4, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

Morgan Stanley raises Q3 Brent forecast on supply concerns

April 22, 2022By Reuters
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April 22 (Reuters) – Morgan Stanley raised its third quarter price forecast for Brent by $10 per barrel to $130 citing a “greater deficit” this year due to lower supply from Russia and Iran, which is likely to outweigh short-term demand headwinds.

“The oil market is contending with negative GDP revisions, the effects of China’s zero-COVID policy and a particularly large release from the Strategic Petroleum Reserves,” Morgan Stanley said in a note dated April 21.

“Our forecasts still point to declining inventories and shrinking spare capacity as the year unfolds,” it added.

Morgan Stanley sees a deficit of about 1 million barrels per day (bpd) persisting through 2022 as supply issues are likely to be exacerbated by deteriorating buying interest in Russian oil and lack of progress in reviving the Iran nuclear deal.

The bank also trimmed its oil demand growth forecast to 2.7 million from 3.4 million bpd.

Brent crude futures slipped on Friday pressured by prospects of weaker global growth, higher interest rates and COVID-19 lockdowns in China even as the European Union considered a ban on Russian oil which would further tighten supply.

(Reporting by Roshan Abraham and Eileen Soreng in Bengaluru; editing by Jason Neely)

This article originally appeared on reuters.com

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