 The crude oil market is currently tight, but next year will likely be in surplus, with Brent prices declining into the mid-to-high 70s range, according to Morgan Stanley. The bank added tightness will hold for most of the third quarter, but equilibrium will return by the fourth quarter. Morgan Stanley said it expects OPEC and non-OPEC supply to grow by about 2.5 million barrels per day next year, well ahead of demand growth.