Washington: The World Bank has announced a significant revision to its forecast for the average price of Brent crude oil for the years 2026 and 2027. This update reflects a notable shift in the anticipated pricing trends for the global oil market over the coming years.
According to Azeri-Press News Agency, the World Bank, in its April outlook, now projects the average price of Brent crude at $86 per barrel in 2026, which is a substantial increase of $26 compared to its previous forecast. For 2027, the forecasted average price is set at $70 per barrel, slightly higher than the earlier estimation of $65.
The World Bank’s updated calculations reveal that the average price of Brent crude stood at $69 in 2025. Consequently, the revised forecast indicates a year-on-year increase of 24.6% in 2026, followed by an 18.6% decrease in 2027.