--- title: "Morgan Stanley raised its Brent crude oil forecast for this year to USD 72.5 per barrel and upgraded the target prices for the \"three oil giants,\" urging to \"overweight.\"" type: "News" locale: "en" url: "https://longbridge.com/en/news/278022710.md" description: "Morgan Stanley has raised its forecast for Brent crude oil prices in 2026 to USD 72.5 per barrel and has upgraded the target prices for the \"three oil giants,\" all recommending \"overweight.\" The target price for PetroChina H shares has been increased from HKD 10.25 to HKD 13.25, Sinopec H shares from HKD 6.4 to HKD 6.98, and CNOOC H shares from HKD 17.6 to HKD 28.9. The firm is optimistic about the strategic value and profitability sustainability of PetroChina due to energy security and believes that Sinopec's profit outlook is positive" datetime: "2026-03-06T03:20:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278022710.md) - [en](https://longbridge.com/en/news/278022710.md) - [zh-HK](https://longbridge.com/zh-HK/news/278022710.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/278022710.md) | [繁體中文](https://longbridge.com/zh-HK/news/278022710.md) # Morgan Stanley raised its Brent crude oil forecast for this year to USD 72.5 per barrel and upgraded the target prices for the "three oil giants," urging to "overweight." Morgan Stanley released a report, raising its forecast for Brent crude oil prices in 2026 to $72.5 per barrel, with the 2027 and long-term forecasts expected to be $65 per barrel. The bank remains optimistic about the "three oil giants," expecting that the market's continued focus on energy security will support the strategic value and profitability sustainability of China National Petroleum Corporation (00857.HK); it raised the target price for China National Petroleum Corporation's H-shares from HKD 10.25 to HKD 13.25, and the target price for its A-shares (601857.SH) from RMB 11.4 to RMB 14.7. Additionally, the bank believes that although Sinopec (00386.HK) faces freight inflation pressure, part of it is offset by inventory gains and the appreciation of the RMB. At the same time, if raw material supply remains constrained, the fuel and chemical market in mainland China may shift from structural oversupply to supply shortages, supporting a strengthening of profit margins, which would lead to an upward trend in Sinopec's downstream profitability; it raised the target price for Sinopec's H-shares from HKD 6.4 to HKD 6.98, and the target price for its A-shares (600028.SH) from RMB 6 to RMB 8. The target price for CNOOC (00883.HK) H-shares was raised from HKD 17.6 to HKD 28.9. All three oil giants' H-shares received an "overweight" rating ### Related Stocks - [Sinopec Corp. (600028.CN)](https://longbridge.com/en/quote/600028.CN.md) - [CNOOC (600938.CN)](https://longbridge.com/en/quote/600938.CN.md) - [CNOOC (00883.HK)](https://longbridge.com/en/quote/00883.HK.md) - [SINOPEC CORP (00386.HK)](https://longbridge.com/en/quote/00386.HK.md) - [PETROCHINA (00857.HK)](https://longbridge.com/en/quote/00857.HK.md) - [SINOPEC SSC (01033.HK)](https://longbridge.com/en/quote/01033.HK.md) - [ZPEC (603619.CN)](https://longbridge.com/en/quote/603619.CN.md) - [China Universal CSI Oil & Gas Resources ETF (159309.CN)](https://longbridge.com/en/quote/159309.CN.md) - [Yinhua CSI Oil & Gas Resources ETF (563150.CN)](https://longbridge.com/en/quote/563150.CN.md) - [E Fund CSI Petrochemical Industry ETF (516570.CN)](https://longbridge.com/en/quote/516570.CN.md) - [Bosera CSI Oil & Gas Resources Index ETF (561760.CN)](https://longbridge.com/en/quote/561760.CN.md) - [ChinaAMC CSI Petrochemical Industry ETF (159731.CN)](https://longbridge.com/en/quote/159731.CN.md) - [Guotai CSI Oil & Gas Industry ETF (561360.CN)](https://longbridge.com/en/quote/561360.CN.md) ## Related News & Research - [CNOOC's Actual Controller Boosts Shareholding](https://longbridge.com/en/news/277784378.md) - [PetroChina responds to unusual share price moves](https://longbridge.com/en/news/277621363.md) - [CNOOC Says Unaware of Reason for Share Price Movement](https://longbridge.com/en/news/277741273.md) - [CNOOC increased shareholdings in co's A-shares by 705,500 shares for RMB30 mln from Oct 9 to Mar 4](https://longbridge.com/en/news/277806674.md) - [CNOOC Group Lifts Stake in CNOOC Limited to Over 62%](https://longbridge.com/en/news/277780202.md)