HomeEconomyThe World Bank predicted...

The World Bank predicted a decline in Russian oil supplies

Image: Getty Images

The strengthening of the dollar and the devaluation of the currencies of most developing countries have led to higher food and fuel prices.

After the introduction of restrictions on Russia’s oil supply in December, its exports will decrease by 2 million barrels per day, analysts at the World Bank said.

function news4529208() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4529208&lang=2&IsAjax=true’, function (data) { $(‘#nk4529208’).html(data); });
}

news4529208();

After rising by around 60% in 2022, energy prices are expected to fall by 11% in 2023. Despite this, next year’s energy prices will still be 75% above average levels in the past five years.

Brent crude oil is expected to average $92/bbl in 2023, well above the five-year average of $60/bbl. Prices are expected to drop to $80 by 2024.

Prices for gas and coal are also expected to drop. That said, by 2024, coal prices in Australia and the US will still be double the average of the previous five years, while gas prices in Europe could be nearly four times higher.

Metal prices are forecast to fall 15% by 2023, mainly due to weak global growth and concerns about a slowdown in China.

In addition, the World Bank expects a decrease in prices for agricultural products – by 5% in 2023. It is noted that wheat prices in the third quarter of 2022 have fallen by almost 20%, but remain at 24% higher than a year ago. The decline in agricultural prices in 2023 reflects a stronger than expected global wheat harvest, stable supply in the rice market and a resumption of grain exports from Ukraine.

Recall that gas prices fell below one thousand dollars per thousand cubic meters – for the first time since June 14.

News from Correspondent.net on Telegram. Subscribe to our channel Athletistic

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Russia will help you go to the depression of swamp bombing – Reuters

The country of the aggressor will not be able to quickly replace the strategic aircraft that were lost as a result of a wide security service for websites. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle...

Possible GTA 6 leakage reveals news in the gameplay

Some items and details about news from the new Grand Theft Auto VI game were possibly leaked on social networks; look!It will be? A new Reddit publication has created more speculation about what players can expect from 'Grand Theft Auto VI'. The game, officially postponed in early...

In Latka, the skeleton of the bend and posts (photographs) was struck

As a result of the Russian attack, the number of death in Latsk increased. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } Rescuers owed the body of a 27-year-old dead...

The Russian Federation was elected in Magatta in the void, the busy Zaes will begin

The country aggressor announced the desire to restart the occupied Zaporizhjhya NPP. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } The invaders have already contacted the IAEA so that the...

James Gunn confirms post-credit scene in ‘Superman’

With the next launch, the new creative director of the DC universe, James Gunn, confirms that 'Superman' will have scenes you creditsThe premiere of the new Steel Man movie is getting closer and closer and with it news is being released by the producers. 'Superman' will be...