The International Monetary Fund (IMF) forecasts average oil price at $63.5 a barrels for the end of 2019, Report informs referring to the IMF.

In 2020 the oil price is forecasted to down $3.6 or 5.7% to $59.9 a barrels.

The IMF predicts that the oil price will be $58.0 a barrel in 2020, which is down $1.9 or 3.2% from previous year. For 2022-2023, the average oil price is expected to be $57.2, down $0.8 or 1.38% from 2021.

In 2024 the oil price is forecasted to go up by $0.4 or 0.7% to 57.6 a barrel.