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International Monetary Fund raises forecast for 2023 oil prices
Energy
- 10 October, 2023
- 09:24
The International Monetary Fund (IMF) raised its forecast for average oil prices in 2023 to $80.49 per barrel from $76.43, and the forecast for 2024 was raised to $79.92 per barrel from $71.68, Report informs.
Oil prices are expected to decline by 16.5% in 2023 and by 0.7% in 2024.
According to the fund, in 2022 the price of oil increased by 39.2%, to $96.36 per barrel.
To calculate the average price of oil, the IMF uses futures prices for Brent, Fateh and WTI.
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