Morgan Stanley sees USD 70 oil by 2018
USA With stockpiling expected to lessen in 2017, oil prices could stabilise at USD 40 before reaching USD 50 in 2018, Morgan Stanley said. Earlier this week, the top executives at Shell and BP made similar statements, with BP’s Bob Dudley counting on a rebalancing of prices from the third quarter onwards.
Ben van Beurden, the CEO at Shell, made a more conservative estimate, saying “we will probably see a rebalancing of the market later this year – maybe early next year.”
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