Morgan Stanley analysts have updated their forecast for oil prices
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Experts from one of the world’s largest banks, Morgan Stanley, have updated their forecast for oil prices. What is important and positive for Ukraine — the recalculation is made in the direction of decrease. Daniil Hetmantsev, head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, reported this in Telegram.
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How oil prices will change
According to Morgan Stanley analysts, the Brent benchmark in 2023 will cost:
- in the third quarter — $77.5 per barrel (-$12.5 compared to the previous quarterly forecast);
- in the fourth quarter — $75.0 per barrel (-$12.5).
Read also: India’s largest banks refused to process payments for Russian oil purchased above $60
In 2024, according to predictions, oil will be more expensive, but still at a more or less acceptable, and most importantly, stable level:
- in the first quarter — $85 (-$10.0 compared to the previous forecast);
- in the second quarter — $85 (-$7.5);
- in the third quarter — $85 (-$5.0).
It is also believed that at least at the beginning of 2024, a significant deficit of supply compared to demand is not foreseen.
“Considering the level of dependence on oil imports, such a scenario is acceptable for Ukraine (of course, we would like oil to be cheaper, but many feared that in 2024 it would cross the $100 per barrel mark),” Hetmantsev noted.
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Source: Ministry of Finance
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