Morgan Stanley expects support for Brent crude oil in the mid $80s.
Analysts at the firm responsd to the OPEC+ agreement. They assess that the output cuts took a long time to negotiate, and while they are still not part of the formal quota, and only limited commitment by members of the cartel is being shown (Angola, for example), even partial compliance should be enough to prevent stockpile builds in Q1 of 2024.
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