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Crude oil prices can rise up to $110 a barrel in 2023, say analysts

Brent crude oil prices have slipped nearly 15 per cent in the last few weeks, from a peak of around $98 a barrel to a little over $83 a barrel now despite OPEC+ cutting supply

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Brent crude oil prices have slipped nearly 15 per cent in the last few weeks, from a peak of around $98 a barrel

Puneet Wadhwa New Delhi
Brent crude oil prices can rise up to $110 a barrel in 2023, up nearly 33 per cent from the current levels, said analysts at Morgan Stanley in a recent note. This is, however, lower than the peak level of nearly $127 a barrel hit earlier in 2022 as geopolitical concerns took center stage amid rising demand. 

ALSO READ: As Russia becomes India's premier oil supplier, Saudi is not losing sleep

“Looking ahead, Brent oil price growth will decelerate even more in the coming quarters; even as our global oil strategist expects a rise in oil prices back

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First Published: Nov 29 2022 | 11:39 AM IST

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