OPEC+ delayed oil output increases, pushing back plans by three months to April and extending cuts until September 2026. Morgan Stanley and HSBC revised their forecasts, predicting a Brent price of $70 per barrel and a smaller oil market surplus in 2025. Bank of America maintained a lower forecast, citing weak demand growth as a key concern for OPEC+.
Morgan Stanley, HSBC cut oil supply forecast, predict $70 Brent after OPEC decision
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