Bloomberg Surveillance · Tuesday, June 30, 2026
Morgan Stanley has revised its oil price forecast downwards for the second time this year, now projecting crude oil to reach $70 by the end of 2027. This adjustment reflects concerns about a potential oil glut, with the bank suggesting that the market may be overestimating the pace of production recovery and underestimating future inventory rebuilding demand.
“Morgans Stanley of course cutting its oil forecasts, looking now for seventy dollars at the end of twenty twenty seven. So it's not just a near term forecast to Amory, it's also longer term what we could potentially be seeing.”
“I think the signal from the White House besn't really clear. We want to make sure that oil continues to flow. They didn't want to go into peak driving season with high prices on the consumer, and even with prices dropping across the United States, the President is still annoyed not dropping fast enough and actually going after per Truth Show. So last few days retail gasoline owners telling saying they're gouging and telling consumers that you report them and complain.”