ICYMI: Morgan Stanley raised its global oil demand growth estimate for 2023 by about 36% | Forexlive

Morgan Stanley flagged increasing demand from China and also supply increasing out of Russia:

• mobility indicators for China, such as congestion, have been rising steadily
• flight schedules have firmed-up the outlook for jet fuel demand

Supply from Russia stronger than expected

• We previously estimated a ~1 mb/d year-on-year decline in 2023, which we moderate to 0.4 mb/d”

MS revised their Brent oil price forecast for H2 2023 to $90-100 a barrel from $100-110 previously.