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Price of oil barrel to reach $76.43 in 2023, $71.68 - in 2024 — IMF

Oil prices rose by 39% in 2022, the statement said

WASHINGTON, July 25. /TASS/. The International Monetary Fund (IMF) expects the average price of a barrel of oil to reach $76.43 this year and $71.68 next year, according to a report from IMF published on Tuesday.

Oil prices rose by 39% in 2022, and in 2023 they are forecast to fall by about 21%, reflecting a slowdown in global economic activity, the statement said.

The IMF improved the forecast for oil prices for this year - in a similar IMF document from April, oil prices were expected to fall by 24.1% in 2023 to $73.1 per barrel. In that report, the fund's specialists also forecasted a decline in oil prices over the next three years.