MARKETS

World Bank sees energy prices dipping 11% in 2023

THE World Bank on Wednesday said it expects energy prices to decline by 11% in 2023 after this year's 60% surge following Russia's invasion of Ukraine, although slower global growth and Covid restrictions in China could lead to a deeper fall.

Tim Daiss

World Bank sees energy prices dipping 11% in 2023

In its latest Commodity Markets Outlook, the World Bank projected that Brent crude will average US$92/ barrel in 2023 before easing to $80 in 2024, but still well above the five-year average of $60/barrel....

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