The price of crude oil is expected to average $64 per barrel in 2025, the World Bank has revealed in its April 2025 Commodity Markets Outlook.
This is compared with $80.7 per barrel in 2024, notes JoyBusiness.
World Bank Commodity Markets Outlook April 2025
The report stated that escalating concerns about global economic growth saw oil prices fall sharply in early April 2025 to below $63 per barrel, the lowest level since April 2021. /// nCa, 5 May 2025