World Bank lowers its forecast for 2023 oil prices

The World Bank lowered its 2023 oil price forecast to $80 per barrel, and improved the 2024 estimate to $82 per barrel, Report informs via Prime.

The price forecast for 2023 is reduced by $8 per barrel compared to the January forecast, and for 2024 it is increased by $2 per barrel.

In 2025, the World Bank expects oil prices to rise to $84.4 per barrel.