Global oil prices to rise by 41 percent - IMF

The International Monetary Fund has predicted a nearly 41% increase in oil prices this year, at an average of $96 a barrel.

The International Monetary Fund on Tuesday assumed oil prices will average $95.74 a barrel this year, up from $67.74 in 2025 - simple average of prices of Brent, Dubai Fateh, and WTI crude oil.

 In 2027, the average price is projected to ease by 8.7% to $87.39.