IMF upgrades oil prices outlook

The International Monetary Fund (IMF) has upgraded the outlook of world ol prices for 2019 and 2020 - by $6.4 and $4.9 - to $65.52 in 2019 and $63.88 in 2020, according to its World Economic Outlook for July.

"The average price of oil in US dollars a barrel was $68.33 in 2018; the assumed price, based on futures markets (as of May 28, 2019), is $65.52 in 2019 and $63.88 in 2020," the report said.

In its April outlook, the fund slightly upgraded the average price outlook - just by $0.2 and $0.3 - to $59.16 and $59.02 per barrel this and next year.