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    15.06.2016 08:23 Morgan Stanley: oil prices could drop toward $30 a barrel due to the global oil oversupply

    15.06.2016 08:23

    Morgan Stanley: oil prices could drop toward $30 a barrel due to the global oil oversupply

     

    Morgan Stanley said on Tuesday that oil prices could drop toward $30 a barrel due to the global oil oversupply. The lender noted that the recent rise in oil prices was led by a lower oil output, mainly driven by supply disruptions in Canada and Nigeria. According to Morgan Stanley, the global supply could rise as outages are likely to fade, inventories are still high, and the U.S. supply could increase due to higher current oil prices.

     

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