Global oil demand my not recover to levels seen in the last quarter of 2020 until the final quarter of 2021 as countries will emerge slowly from the coronavirus crisis, according to analysts at Morgan Stanley.
Morgan Stanley’s head of oil research Martijn Rats said:
The demand recovery will be somewhat muted, and we could see some structural changes to people’s behavior.
Morgan Stanley expects the West Texas Intermediate crude to stabilize around $40 per barrel and Brent to trade around $45 per barrel over the next year.
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