10:59 - 13.11.2023

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November 13, Fineko/abc.az. The price of oil may be at the level of $120 per barrel as early as 2024, if the Middle East conflict leads to disruption of energy supplies.

According to Fitch’s November forecast, in this case, in 2025, the average oil price may be in the range of $100.

At that, in September, Fitch predicted that in 2024 oil could cost $75 on average, and in 2025 it would drop to $70 altogether.

The agency's current position, which includes the option of aggravating the military conflict, also takes into account that a sharp rise in oil prices may lead to decrease in global GDP growth and increase inflation.