Oil prices to drop by $10 in next two years-FORECAST

Oil prices to drop by $10 in next two years-FORECAST
# 14 May 2024 11:09 (UTC +04:00)

ING (Internationale Nederlanden Groep), the international banking and financial services corporation of the Netherlands, has updated its forecast on the average price of Brent standard oil, APA-Economics reports citing forecast report of ING for May.

Thus, ING lowered its forecast for the average price of Brent standard oil for 2024 from USD 86 to USD 85.

According to the forecast, the average price of Brent oil is likely to be $80 in 2025 (the forecast has not changed).

In addition, ING announced its forecast of Brent for 2026. So, the mentioned indicator is likely to be at the level of USD 75.

Recall that according to ING calculations, the average price of Brent oil in 2023 was USD 82.

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