The average annual price of Brent crude oil may total $103.6 per barrel in 2022, according to Spring 2022 Economic Forecast released by the European Commission (EC) on Monday. In 2023, the Brent price may equal $93.5 per barrel, the authors of the forecast said, adding that the outlook is not precise as its implementation depends on many factors difficult to project. The World Bank said in its report in late April that the price of Brent crude oil would reach the highest level since 2013 of $100 per barrel in 2022, which is 42% higher than the average annual price of 2021.

Text to Speech

Select Voice

Volume

1

Rate

1

Pitch

1

The average annual price of Brent crude oil may total $103.6 per barrel in 2022, according to Spring 2022 Economic Forecast released by the European Commission (EC) on Monday. In 2023, the Brent price may equal $93.5 per barrel, the authors of the forecast said, adding that the outlook is not precise as its implementation depends on many factors difficult to project. The World Bank said in its report in late April that the price of Brent crude oil would reach the highest level since 2013 of $100 per barrel in 2022, which is 42% higher than the average annual price of 2021.