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Morgan Stanley revises oil forecasts downward
Morgan Stanley has lowered its oil price forecasts for the second time in two weeks, anticipating that the average Brent price will be around $75 per barrel in the third and fourth quarters of the year, with prices continuing to decline to reach $70 by the end of next year. This outlook is driven by a faster-than-expected rebound in oil flows and a decline in demand in the Chinese market, increasing the risk of a supply surplus.
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