Chicken Little and China myths

NATIONAL Australia Bank says oil markets have been acting more like Chicken Little, thinking the sky is falling due to misplaced fears of China's demise rather than the facts, but that hasn't stopped Morgan Stanley from slashing its 2016 Brent price forecast by 40% to $US30/barrel.

Chicken Little and China myths Chicken Little and China myths Chicken Little and China myths Chicken Little and China myths Chicken Little and China myths

Morgan Stanley believes the supply-demand imbalance will drag on for another two years, and now expects Brent to average $40 in 2017 before it finally hits $50 by the end of that year.

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