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.

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.