CBA forecasts average oil price at $64 for 2026

The Central Bank of Azerbaijan (CBA) expects the average price of oil on the global market to be $64 per barrel in 2026, Report informs.

CBA Governor Taleh Kazimov announced the updated forecast during a press conference dedicated to the bank's latest decision on the interest rate corridor.

He also stated that the average price of natural gas is projected to be $288 per 1,000 cubic meters next year.

For comparison, in its July forecast, the CBA had projected oil to average $64.6 per barrel and natural gas at $290 per 1,000 cubic meters in 2026.