Washington: The World Bank (WB) has lowered its oil price forecast for 2025-2026, as stated in the World Bank’s report on the global economy, APA-Economics reports.

According to Azeri-Press News Agency, the WB has projected the oil price to be 72 USD for 2025 and 71 USD for 2026. This represents a reduction of 7 percentage points and 1 percentage point, respectively, compared to the Bank’s June forecast of the previous year.

The World Bank also adjusted the non-energy commodity price index, setting it at 108.5 for this year and 107 for 2026. These figures are 2.4 and 0.4 points lower, respectively, compared to the Bank’s previous forecast.