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Economic Development Ministry raises forecast for 2025 Brent oil price from $68 to $70

The forecast for 2026-2027 is also $70 per barrel, and for 2028 it is $72

MOSCOW, September 24. /TASS/. Russia’s Economic Development Ministry has raised its forecast for the average annual price of Brent crude oil in 2025 from $68 to $70 per barrel, according to its updated outlook for Russia’s socio-economic development for 2025-2028.

The forecast for 2026-2027 is also $70 per barrel, and for 2028 it is $72.

The price of Russian Urals export crude oil is expected to be $58 and $59 per barrel in 2025-2026, respectively, $61 in 2027, and $65 in 2028.