Vienna: The International Monetary Fund (IMF) has announced its forecast for the average price of a barrel of oil for 2026-2027, APA-Economics reports, citing the IMF's next report on the development prospects of the world economy.

According to Azeri-Press News Agency, the average price of a barrel of oil this year is projected to be 62.13 US dollars, and in 2027, it is expected to be 62.17 dollars. The report's authors estimate that oil prices will decrease by 8.5% this year and see a minimal increase of 0.1% next year. These forecasts have been revised from the Fund's previous report on the world economy published in October last year, with the indicator for 2026 being lowered by 4% and the forecast for 2027 being increased by 0.3%.