Accra:The International Monetary Fund (IMF) has significantly increased its forecasts for average oil prices on the global market for the years 2026 and 2027. These updated projections are detailed in the Fund’s World Economic Outlook report published in October.
According to Azeri-Press news agency, the IMF’s macroeconomic forecasts now assume oil prices will reach $95.74 per barrel in 2026 and $87.39 per barrel in 2027.
These figures represent substantial increases from the Fund’s previous forecasts in April, with the 2026 estimate rising by $13.52, or 16.4%, and the 2027 estimate by $11.42, or 15%. Despite these increases, the IMF predicts that the average oil price in 2027 will be $8.35, or 8.7%, lower than in 2026.