Morgan Stanley cuts Q1 2022 Brent oil forecast on Omicron risks

Arab News | Nov 29, 2021 at 1:17 PM
  • Morgan Stanley on Monday cut its first-quarter 2022 Brent crude price forecast to $82.50 per barrel from $95 on market expectations that the Omicron coronavirus variant could turn into a major headwind for oil demand.
  • Oil rebounded by almost 5 percent on Monday to $76 a barrel as some investors viewed Friday’s more than 10 percent slump in oil on concern about the Omicron coronavirus variant as overdone.