MS precede their worth forecast by saying “one of many classes of the oil market over the past decade – and once more in 2020 – is that momentum sometimes carries on for longer than anticipated.

  • H2 of 2021 will see demand restoration prone to be in full swing
  • Brent H2 forecast $65-70 /bbl
  • $70 peak in Q3
  • H1 2022 Brent forecast is $60 (from 55 prior)

MS cite undersupply, Q1 could possibly be one of the undersupplied quarters since no less than 2000 they are saying. Mobility stats are bottoming out, demand is about to enhance from right here. 

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