Washington: The World Bank (WB) has updated its forecast for the average price of the benchmark Brent crude oil for 2025-2026, APA-Economics reports, citing the bank’s forecast for October.
According to Azeri-Press News Agency, the average price of Brent oil is projected to be 68 US dollars in 2025, which reflects an increase of 4 dollars from the previous forecast. The forecast for 2026 remains unchanged at 60 dollars. Additionally, the World Bank has released its forecast for 2027, predicting the price to be 65 dollars.
The WB’s calculations indicate that the average price of Brent in 2024 is expected to be 80.7 dollars. Consequently, the price in 2025 is anticipated to decrease by 15.7% compared to 2024, followed by a further decline of 11.8% in 2026, and then an increase of 8.3% in 2027.