IMF predicts rise in oil prices

Oil prices will rise by more than 20% this year, Report informs with reference to the International Monetary Fund (IMF) World Economic Outlook released on January 26.

Reflecting the projected global economic recovery, oil prices are expected to rise more than 20% in 2021 compared to the 2020 low base level but will remain much lower than in 2019.

Prices for commodities other than oil are also expected to rise. Metal prices are forecast to increase sharply in 202, according to the outlook.