Bank Of Baku

IMF slashes oil price outlook

IMF slashes oil price outlook
# 29 January 2009 12:44 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. The International Monetary Fund (IMF), has projected the average price of crude for 2009 at $50 per barrel.
IMF, in its World Economic Outlook, released yesterday, in Washington, said: "The IMF’s baseline petroleum price projection has been revised down to $50 a barrel for 2009 and $60 a barrel for 2010 (from $68 and $78, respectively, in the November WEO Update), and risks to this projection are on the downside. Metals and food prices have also been marked down in line with recent developments."
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