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Morgan Stanley raises Brent crude forecast to US$60 on supply concerns
Morgan Stanley increased its Brent-oil forecast to US$60 per barrel, citing the OPEC+ output pause and sanctions on Russian supply.
Investment bank Morgan Stanley upgraded its forecast for Brent crude oil to US$60 per barrel in H1 2026, up from US$57.50. The revised outlook is driven by the OPEC+ decision to pause oil-output increases in early 2026 and fresh U.S.-EU sanctions on Russian producers. While a market surplus is expected in 2026, Morgan Stanley said non-OPEC supply growth will slow and OPEC spare capacity remains limited. At time of comment, Brent traded near US$64.61 and WTI at US$60.80. Traders said the move signals a tighter supply backdrop than previously assumed.