Oil
Crude oil to average $79 per barrel in 2027 – World Bank
CEII brief
MyJoyOnline (Ghana) reported on 4 Nov 2026: Crude oil to average $79 per barrel in 2027 – World Bank.
Read the full story on MyJoyOnline (Ghana)According to the report, global oil consumption is anticipated to contract by 2.5% in 2026, the third-largest decline on record, after the pandemic year of 2020 and the oil market turmoil of 1980.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Original reporting © MyJoyOnline (Ghana). Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
