{"id":61597,"date":"2022-01-22T08:39:04","date_gmt":"2022-01-22T13:39:04","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61597"},"modified":"2022-01-22T08:39:04","modified_gmt":"2022-01-22T13:39:04","slug":"morgan-stanley-jumps-on-the-100-oil-bandwagon","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61597","title":{"rendered":"Morgan Stanley Jumps On The $100 Oil Bandwagon"},"content":{"rendered":"

Morgan Stanley Jumps On The $100 Oil Bandwagon<\/a><\/h3>\n
<\/picture><\/div>\n
\n

Morgan Stanley expects oil prices to hit $100 per barrel in the second half of the year, becoming the latest major Wall Street bank to expect triple-digit oil prices by the end of 2022.<\/p>\n

The oil market is headed to a \u201ctriple deficit\u201d of low inventories, low spare production capacity, and low investment, Morgan Stanley said in a note carried by\u00a0Reuters<\/a>.<\/p>\n

The bank now expects oil at $100 in the third and fourth quarters of this year, lifting its previous Q3 and Q4 forecasts from $90 and $87.50 a barrel, respectively.<\/p>\n

\u201cThe key oil products markets (gasoline, jet fuel, and gasoil\/diesel) all show strong crack spreads, steep backwardation, and inventories that have fallen to low levels. None of this signals weakness,\u201d Morgan Stanley analysts wrote in the note.<\/p>\n

The bank is the latest investment institution to predict that oil is headed to triple-digit territory as soon as this year, amid resilient demand, falling inventories, and declining spare capacity at OPEC+ as the group ramps up production.<\/p>\n

Triple-digit oil \u201cis in the works\u201d for the second quarter this year, Francisco Blanch, head of global commodities at Bank of America, told\u00a0Bloomberg<\/a> last week. Demand is recovering meaningfully, while OPEC+ supply will start leveling off within the next two months, Blanch said, noting that it will be only Saudi Arabia and the UAE that can produce incremental barrels to add to the market.<\/p>\n

Oil prices could hit $100 this year and\u00a0rise to $105 per barrel in 2023<\/a>, on the back of a \u201csurprisingly large deficit\u201d due to the milder and potentially briefer impact of Omicron on oil demand, Goldman Sachs said this week…<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Morgan Stanley Jumps On The $100 Oil Bandwagon Morgan Stanley expects oil prices to hit $100 per barrel in the second half of the year, becoming the latest major Wall Street bank to expect triple-digit oil prices by the end of 2022. The oil market is headed to a \u201ctriple deficit\u201d of low inventories, low […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[7477,592,5332,32530,860],"class_list":["post-61597","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-morgan-stanley","tag-oil-price","tag-oilprice-com","tag-reuterstsvetana-paraskova","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61597"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61597\/revisions"}],"predecessor-version":[{"id":61598,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61597\/revisions\/61598"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}