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IMF forecasts oil prices at $60 a barrel in 2023

"Global oil supply is expected to gradually increase over the forecast horizon," the IMF said in in its World Economic Outlook report

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Putin says political factors led to oil price growth

MOSCOW, October 9. /TASS/. The International Monetary Fund (IMF) forecasts oil prices at $68.78 per barrel in 2019 and up to $60 in 2023, according to the World Economic Outlook report released on Tuesday.

"Oil prices are expected to average $69.38 a barrel in 2018 (higher than the April 2018 WEO projection of $62.30 and the 2017 price of $52.80 a barrel). Global oil supply is expected to gradually increase over the forecast horizon, lowering oil prices to $68.76 a barrel in 2019, and further to about $60 a barrel in 2023," the report said.

The Russian Economic Development Ministry earlier included in its budget planning scenarios the situation with oil prices for Urals at $63.4 a barrel in 2019, $59.7 a barrel, and $57.9 a barrel in 2021.

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