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1 July | Oil

Morgan Stanley forecasts Brent crude at $60 per barrel by 2026

Brent
WTI Light Crude Oil
Morgan Stanley forecasts Brent crude at $60 per barrel by 2026

Analysts at Morgan Stanley project that Brent oil prices will reach $60 per barrel by early next year. This price move is anticipated as the fuel market stabilizes and geopolitical risks subside, especially after the de-escalation of Iran-Israel tensions. 

The report also highlights a steady rise in energy supplies from non-OPEC+ countries, which could lead to an overproduction of at least 1 million barrels per day. According to the bank estimates, this surplus should be sufficient to meet global demand growth.

Despite OPEC+’s recent production cuts, market projections indicate a potential oversupply of 1.3 million barrels per day in 2026. 

Although Morgan Stanley has recently raised its oil price forecasts due to escalating tensions in the Middle East, increased OPEC+ output continues to pressure fuel prices.

Elena Berseneva MarketCheese

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