Morgan Stanley sees Brent at $60/bbl by early next year
ReutersJun 30, 2025 9:21 PM
June 30 (Reuters) - Brent crude will likely retrace to around $60 per barrel by early next year, with the market being well supplied and geopolitical risk abating following the Israel-Iran de-escalation, Morgan Stanley said in a note on Monday.
The bank added it sees robust supply growth from non-OPEC countries over 2025-26 in the order of 1 million barrels per day each year, which would be enough to meet demand growth in the period.
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