Morgan Stanley analysts believe that the Middle East conflict has ushered in a rise in the possibility of reconciliation, so Brent crude oil price expectations were lowered to maintain a neutral rating for European energy stocks; BP was listed as the preferred target, and the Equinor, OMV, and GALP ratings were lowered. The team led by Martijn Rats said that Brent crude oil is currently expected to fall to 75 US dollars/barrel in the fourth quarter of 2027, and the previous forecast period was mid-2028; however, the oil price forecast for the first quarter remained unchanged at $100 per barrel, and there are still significant risks on the Middle East supply side. The European energy sector has increased by a total of 42% this year, and analysts maintain their original judgment on this sector. The report said that even if long-term oil price prospects weaken, improving refinery profits will still support corporate profits.

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