Economics
Morgan Stanley Says a Shipping Revolution Has Oil Headed for $90
- IMO rule changes seen boosting demand for oil products, crude
- Bank expects ‘scramble’ for middle distillates, tighter market
This article is for subscribers only.
Forget Iran and OPEC -- there’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley.
Brent crude will reach $90 a barrel by 2020 as new international shipping regulations take effect, overhauling the types of fuels produced by refiners, the bank’s analysts said in a report.