Oil Price Decline Expected To Last Into Mid-2015

Morgan Stanley, the American investment bank, has revised its forecast for oil prices next year, saying current low prices will remain at least until the middle of 2015.


Morgan Stanley, in its revised forecasts, said Brent crude will average US$70.00 per barrel next year. That is down by $28 from its previous forecast.

Morgan Stanley also said oil prices could fall as low as US$43.00 a barrel.

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