Morgan Stanley cuts its 2012 forecast for Brent crude to $100, from $130, on its expectation for returning supply from Libya, Canada and the North Sea. Analysts with the firm see weak demand offsetting inventory cuts by OPEC.
Ha....this is hilarious. Oil is currently at 82.46 per barrel. The analyst is trying to slip his forecast down so he doesn't look so stupid. Maybe no one will notice.
How worthless are these guys???
Here is the long term chart:
Thursday, September 29, 2011
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