Baku: In a recent forecast, the Economist Intelligence Unit (EIU), the research and analysis division of The Economist Group, projects significant changes in the global energy market by 2025-2026.
According to Azeri-Press news agency, oil prices are expected to decline while natural gas markets will experience fluctuations.
The EIU report anticipates that the average price of Brent crude oil will be 67.1 USD per barrel in 2025, further dropping to 63 USD per barrel in 2026. This prediction suggests a continued downward trend in the oil market compared to previous years.
For natural gas, the forecast indicates that prices at Henry Hub will rise to 4.1 USD/mmBtu in 2025 and maintain that level in 2026. In Europe, gas prices are forecasted to reach 12.1 USD/mmBtu in 2025, before decreasing to 9.3 USD/mmBtu in 2026.
The EIU’s assessment highlights the expectation of a decline in oil prices and significant volatility in the gas market over the next two years. It is noted that the average price of Azerbaijani oil has been set at USD 70 per barrel for the current year and USD 65 for the upcoming year.