The World Bank (WB) has updated its forecast for the price of Brent oil for 2024-2025 APA-Economics reports citing the next report of the World Bank on commodity markets.

According to the report, in 2024 the price of 1 barrel of Brent oil will be USD 84, which is USD 3 more than previous forecast indicator.

According to the World Bank forecast, the price of Brent will be at the level of USD 79 in 2025, which is 1% less than the previous forecast.

Thus, according to the Bank’s forecast, the price of Brent will increase by 1.7% in annual comparison in 2024, and decrease by 6% in 2025.

It was noted that the price of Brent oil in 2023 was USD 82.6, which means a decrease of 17.2%.

Source: Azeri-Press News Agency