The IMF lowered the forecast for average oil prices

WASHINGTON, Oct 11 – PRIME The International Monetary Fund (IMF) has lowered its forecast for the average world oil price for 2022 to $98.2 per barrel from $103.88 in July and expects them to decline to $76.3 per barrel by 2025, the organization said in an October report.

The IMF predicted an increase in world food prices

For 2023, the average oil price forecast has also been lowered to $85.52 per barrel from $91.07 expected in July. However, according to the IMF, energy prices in the world remain elevated.

“Futures markets indicate that oil prices in 2022 will rise by 41.4% to $98.2 per barrel on average, but will fall in subsequent years to $76.3 in 2025,” the IMF report said. .

At the same time, fund experts note that sanctions and a potential response from Russia have increased uncertainty, and oil price forecasts may be subject to significant revision.

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