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World oil prices

IMF projects average price of barrel of oil at $89.27 in 2026, $78.7 in 2027

The Fund expects gas prices to rise by 22% in 2026

WASHINGTON, July 8. /TASS/. The International Monetary Fund (IMF) forecasts that the average price of a barrel of oil will be $89.27 this year and $78.7 next year, according to the IMF’s World Economic Outlook report.

The authors of the report expect oil prices to rise by 31.8% in 2026, and to fall by 11.8% in 2027. The projections have been upgraded by 10.4 percentage points (p.p.) and downgraded by 4.2 p.p., respectively, compared to the Fund’s previous estimates released in April.

"Energy prices are projected to remain higher than they were before the war," IMF experts wrote, referring to the US-Israeli operation against Iran. The oil price forecast of $89.27 for 2026 is 9% higher than the IMF’s April projections, according to the Fund’s experts. Meanwhile, this year’s natural gas prices will be 15.5% higher than anticipated in April, the IMF noted. Consequently, the Fund expects gas prices to rise by 22% in 2026.

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Energy crisis in Europe

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