IMF projects drop in oil prices in 2024

IMF projects drop in oil prices in 2024
IMF projects drop in oil prices in 2024
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In its latest update of the World Economic Outlook Report, released this Tuesday, the 30th, the International Monetary Fund (IMF) presented economic projections based on the premise that average annual oil prices are expected to fall by approximately 2.3% in 2024.

The IMF stated that “average annual oil prices are projected to fall by about 2.3% in 2024, while non-fuel commodity prices are expected to fall by 0.9%.”

However, the IMF highlighted that a significant risk to global growth lies in the possibility that the war situation in the Middle East could further intensify in the region, which is responsible for approximately 35% of global oil exports and 14% of gas exports.

“Continued attacks in the Red Sea – through which 11% of global trade passes – and the ongoing war in Ukraine risk generating further adverse supply shocks to the global recovery, with increases in the costs of food, energy and transport ,” the IMF added.

Economic Growth Predictions for 2024:

  • Brazil: 1.7%
  • China: 4.6%
  • USA: 2.1%
  • Russia: 2.6%
  • Eurozone: 0.9%

The article is in Portuguese

Tags: IMF projects drop oil prices

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