Brent to Avg $60/Bbl in 2015, $72?bbl in 2016: Morgan Stanley
2015-04-13 03:38:05.415 GMT
By Serene Cheong
(Bloomberg) -- Crude oversupply continues amid
strengthening demand, analyst Adam Longson says in e-mailed
report dated April 12.
* Demand for transport fuels robust while crude demand strong
since 2014
* On supply side, falling capex should slow growth especially
in the US; pressing challenges come from rising U.S. dollar
and prospect of supply returning from Iran, Iraq or Libya
* After 2016, recovery will be price, policy dependent
* Modest recovery into 2016; underinvestment could push Brent
toward $85/bbl in 2017-2018, assumes unchanged US export
policy through mid-2017 and no change in Iran sanctions
* NOTE: Morgan Stanley sees oil prices driven by sentiment, FX
moves
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To contact the reporter on this story:
Serene Cheong in Singapore at +65-6311-2436 or
scheong20@bloomberg.net
To contact the editors responsible for this story:
Jan Dahinten at +65-6212-1164 or
jdahinten@bloomberg.net
Sharmilpal Kaur
2015-04-13 03:38:05.415 GMT
By Serene Cheong
(Bloomberg) -- Crude oversupply continues amid
strengthening demand, analyst Adam Longson says in e-mailed
report dated April 12.
* Demand for transport fuels robust while crude demand strong
since 2014
* On supply side, falling capex should slow growth especially
in the US; pressing challenges come from rising U.S. dollar
and prospect of supply returning from Iran, Iraq or Libya
* After 2016, recovery will be price, policy dependent
* Modest recovery into 2016; underinvestment could push Brent
toward $85/bbl in 2017-2018, assumes unchanged US export
policy through mid-2017 and no change in Iran sanctions
* NOTE: Morgan Stanley sees oil prices driven by sentiment, FX
moves
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Serene Cheong in Singapore at +65-6311-2436 or
scheong20@bloomberg.net
To contact the editors responsible for this story:
Jan Dahinten at +65-6212-1164 or
jdahinten@bloomberg.net
Sharmilpal Kaur