16:14 - 10.04.2025

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April 10, Fineko/abc.az. The International Monetary Fund (IMF) predicts a gradual decline in oil and natural gas prices from 2025.

ABC.AZ informs with reference to the IMF that in 2025, the average oil price (taking into account the premium of $2-3 to the base forecast of the World Economic Survey - WEO) is projected at $78.6 per barrel.

In the following years, it will decrease: in 2026 - $73.5, in 2027 - $71.6, in 2028 - $70.6, and in 2029 a slight increase to $72 per barrel is expected.

As for natural gas, its cost in 2025, according to IMF estimates, will be $517.4 per 1,000 cu m. Further steady decline is expected: in 2026 - $424.7, in 2027 - $342.2, and in 2028 and 2029 - $290.2 each.

According to the IMF, in 2024 the average price for oil was $81.2 per barrel, and for natural gas - $389 per 1,000 cu m.

Since the beginning of April, Brent crude oil has fallen by about 20%, falling below $60 per barrel.

June’s Brent crude futures fell 1.1% to $64.79 per barrel, while West Texas Intermediate crude futures fell 1% to $61.24. Both contracts showed an increase of 4-6% on Wednesday, partially recovering after reaching a four-year low.

The State Budget of Azerbaijan for this year sets the oil price at $70.