Morgan Stanley reduces oil price forecast

Baku. 6 November. REPORT.AZ/ As the oil market is supplied well, analysts at Morgan Stanley reduced forecast for oil price for 2019, Report informs citing Interfax.

The analysts think that the price of Brent for the fourth quarter of this year will be $77.50 a barrel, compared with a prior projection of $85 a barrel, $80 a barrel in October-December 2019 (the forecast - $87).

The first forecast on WTI crude oil was reduced from $70 a barrel to $68.5 a barrel, the second forecast from $80.5 a barrel to $71 a barrel.