"Energy prices will decrease by 11 percent in 2023 after rising by 60 percent this year," the World Bank predicts, Reuters reported, quoted by BTA.

"The average price of Brent oil will reach $92 per barrel next year and $80 in 2024," the bank predicted in its latest commodity market overview report.

However, these values ​​are well above Brent's five-year average price of $60 per barrel.

"Russian crude oil exports could fall by 2 million barrels per day due to the embargo imposed by the European Union and restrictions on the insurance of oil cargoes and their deliveries," the document said. 

The proposed ceiling on the price of Russian oil by the group of the seven most developed world economies (G-7) may affect Russian exports, but in order to have an effect, it is necessary to include countries with developing economies, the analysis of The World Bank.

She warns that the slowdown in global economic growth and the continued strict restrictions against the spread of COVID-19 in China pose serious risks.

Ivan Hinovski (energy expert) revealed what will happen to the price of gas