World Bank lowers oil price forecast

Baku. 9 January. REPORT.AZ/ The World Bank (WB) lowered its forecast for the average oil price for the next two years to $67 per barrel, down $4 from its December forecast.

Report informs citing Sputnik International that in December, the World Bank expected oil price to average at $71 per barrel in 2019-2021, in June forecast it predicted $69 per barrel.

"Oil prices are expected to average $67/bbl in 2019 and 2020, $2/bbl lower than June projections; however, uncertainty around the forecast is high," the bank's report says.