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Morgan Stanley sees oil prices rising to $75 by the third quarter of 2019. Analysts at the American banking and investment company are more convinced now that OPEC is able to drain oversupply in the oil market since it has extended its production cuts and could possibly increase them. The analysts also linked their forecast to the deteriorated situation in Venezuela which could affect the country’s oil production.

Morgan Stanley Sees Oil Prices Rising to $75

Morgan Stanley sees oil prices rising to $75 by the third quarter of 2019. Analysts at the American banking and investment company are more convinced now that OPEC is able to drain oversupply in the oil market since it has extended its production cuts and could possibly increase them.

The analysts also linked their forecast to the deteriorated situation in Venezuela which could affect the country’s oil production.

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