• News Desk

OIL COULD DROP TO $30


After oil’s climb to stability, one would think the rollercoaster is over for the material. However, Morgan Stanley argues that worse is yet to come for oil, intimating that later in the year the stock could crash to as low as $30. It’s a warning that investors may have taken with a grain of salt, given oil’s impressive climb after crashing to record lows earlier in the year. As a result of oil’s crash, the world market turned to oversupply as the problem, decreasing the amount they pumped out and creating a global supply glut. However, with prices recovering fully, Morgan Stanley believes that people's’ guards will be let down and it will return to oversupply.

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#Oil #MorganStanley

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