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The IMF forecasts oil prices to fall 24.1 percent in 2023

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oil prices decline in 2023

The International Monetary Fund (IMF) predicts oil prices will fall 24.1 percent in 2023 and 5.8 percent in 2024, the international organization said in a report.

The organization forecasts the average cost of oil in 2023 at $73.13 a barrel, and in 2024 at $68.9 a barrel. In a January report, the IMF expected average oil prices of $81.13 and $75.36 a barrel, respectively.

In 2022, the IMF estimated an increase in oil prices of 39.2% and an average price of $96.36 per barrel.

Earlier, we reported that Musk blames the Fed for the financial crisis.

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