Thu, 2023-01-12 13:52
BENGALURU: Morgan Stanley expects the oil market to tighten during the third and fourth quarter of 2023, supported by a recovery in demand prompted by China reopening its borders among other factors, according to Reuters.
“We see the oil market coming into balance in 2Q and turning tight in 3Q and 4Q, supporting higher prices later this year,” the bank said in a note dated Wednesday, with uncertainties like China’s re-opening, recovery in aviation, risks to Russian supply, slowdown in US shale and the end to SPR releases “turning into tailwinds.”
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