Morgan Stanley lowers its crude oil price forecast as the United States and Iran reach a temporary agreement to increase supply

Morgan Stanley has lowered its oil price forecast for the next few quarters as a temporary agreement between the United States and Iran is expected to increase supply. Analysts such as Martijn Rats expect the average spot Brent crude oil price in the third quarter to be $90 per barrel, compared to the previous expectation of $100; The average price in the fourth quarter is expected to be 80 dollars per barrel, 15 dollars lower than before. Analysts predict that production in the Middle East will gradually increase from mid July, assuming that 50% of the lost production will recover by September, 80% by December, and the rest will recover by early 2027.