Fitch Ratings international rating agency increased its forecast for the average price of Brent crude oil for 2023-2024, APA-Economics reports citing Fitch.

Noted that this year the price of one barrel of Brent crude oil is likely to be $82, which is 2 dollars more than the previous forecast.

According to information, for 2024, the agency increased its forecast by 5 dollars, making it likely that it will be at the level of $80.

Fitch has not changed its forecast for the price of Brent crude oil for 2025 and 2026, and it is likely to be at the level of $70 and $65, respectively.

In addition, the Agency raised its expectations for the price of a barrel of WTI oil for 2023-2024 from $75 to $78 and from $70 to $75, respectively.

According to the agency’s forecast, the price of WTI oil will be $65 in 2025, and $60 in 2026 (the forecast has not changed).

Source: Azeri-Press News Agency