The UNEC has updated the forecast of the world oil prices for “Azeri Light” oil


The UNEC forecast of the Azerbaijani oil (Azeri Light) in the world market has been updated.

While making forecast the recent processes happened in the world oil market had been taken into consideration.

The updated forecast is as follows (price for per barrel of oil is indicated in US dollars):

year min average max
2018 52.1 65.7 81.2
2019 57.3 73 87.1
2020 59.6 75.4 88.3

The forecast of the international organizations for oil prices is presented in the table below (barrel/ dollar) for comparison:

Organizations 2018 2019 2020
The World Bank 57.6 59.5 59.3
US Energy Administration 51.2 54.5 68.4

Resource: https://www.eia.gov/outlooks/aeo/tables_ref.php

Keywords: UNEC Azeri Light