Home / Markets / News / Oil demand won't recover to 2019 levels until end of 2021: Morgan Stanley

Oil demand won't recover to 2019 levels until end of 2021: Morgan Stanley

The Wall Street bank expects benchmark US oil prices to stabilise at around $40 a barrel next year

Premium

The demand recovery will be somewhat muted, and we could see some structural changes to people's behaviour

1 min read Last Updated : Apr 29 2020 | 8:40 PM IST

Global oil demand will take until the last quarter of 2021 to recover to its 2019 levels as countries emerge slowly from the coronavirus crisis, Morgan Stanley said on Wednesday.

"The demand recovery will be somewhat muted, and we could see some structural changes to people's behaviour," Morgan Stanley's head of oil research Martijn Rats told reporters.

The Wall Street bank expects benchmark US oil prices to stabilise at around $40 a barrel and Brent crude prices to steady at around $45 a barrel next year.

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in