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.

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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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