Following the OPEC meeting decision to hold to existing production cuts Morgan Stanley lowered its long-term Brent price forecast to $60 per barrel down from $65, with $65 the 3 quarter pivot point from $67.5 per barrel previously
The OPEC Monthly Oil Market Report (MOMR) for October released Wednesday provides OPEC’s outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply.
French oil major Total $TOT is buying Maersk Oil & Gas A/S from Danish shipping giant A.P. Møller – Mærsk A/S in a share and debt transaction valued at US$7.45 billion. The deal adds reserves equivalent to around 1 billion barrels of oil for Total.