The European Commission (EC) has raised its forecast for the average annual price of Brent oil for 2022 by 1.6 times to $103.6 per barrel, Report informs referring to the spring economic report of the EC.

In the autumn forecast, the EC expected the figure in 2022 at the level of $63.9 per barrel.

The European Commission also raised its forecast for the average Brent price for 2023 to $93.5 from $61.6 per barrel.