Morgan Stanley and Goldman Sachs cut oil forecasts citing oversupply
Business
Oil prices are taking a hit as both Morgan Stanley and Goldman Sachs have cut their forecasts, pointing to too much supply and not enough demand, especially with US exports up and China buying less.
Morgan Stanley now expects Dated Brent to average $75 per barrel for the rest of 2026, down from earlier predictions.
U.S.-Iran agreement stabilizes global oil flows
A recent U.S.-Iran agreement has helped stabilize global oil flows, with more tankers moving through the Strait of Hormuz, one of the world's busiest oil routes.
This extra supply is pushing prices down even further. Goldman Sachs also trimmed its outlook.