Morgan Stanley's prediction: Brent crude oil to see strong support at mid $80s

<p>Morgan Stanley expects support for Brent crude oil in the mid $80s.</p><p>Analysts at the firm responsd to the OPEC+ agreement. They assess that the output cuts took a long time to negotiate, and while they are still not part of the formal quota, and only limited commitment by members of the cartel is being shown (<a href="https://www.forexlive.com/news/confusion-and-disobedience-angolas-bold-move-challenges-opec-20231130/" target="_blank" rel="follow">Angola, for exampl</a>e), even partial compliance should be enough to prevent stockpile builds in Q1 of 2024.</p><p>—</p><p>Update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.