MOSCOW, Oct 20 (PRIME) -- The World Bank has increased its forecast for oil prices in 2017 to U.S. $55 per barrel from $53 per barrel, it said in a statement on Thursday.
“We expect a solid rise in energy prices, led by oil, next year,” John Baffes, senior economist at the WB, said, as quoted in the statement. “However, there is considerable uncertainty around the outlook as we await the details and the implementation of the OPEC agreement, which, if carried through, will undoubtedly impact oil markets.”
The bank also increased its forecast for metals price increase in 2017 to 4.1% from 3.6%.
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