Baku: S and P Global Ratings has released its forecast for the average price of Brent oil for the years 2025 through 2027. According to the agency’s forecast for October, the benchmark price is expected to experience fluctuations over the coming years.

According to Azeri-Press News Agency, S and P Global Ratings projects the average price of Brent oil to be 67 US dollars in 2025 and 60 dollars in 2026. This forecast indicates a downward trend in oil prices compared to previous years. Additionally, the agency has provided its forecast for 2027, where it anticipates the price of Brent to rise to 65 dollars.

The agency’s calculations reveal that the average price of Brent in 2024 was 80 dollars. Based on this, Brent oil is expected to experience a year-on-year decline of 16.3% in 2025, followed by a further drop of 10.4% in 2026. However, a moderate increase of 8.3% is projected for 2027.