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The Economic Times
The Economic Times

Crude oil prices likely to stay higher for longer: ADB Chief Economist

ADB Albert Park Oil India crude oil Inflation GDP Middle East

The ongoing Middle East crisis is expected to keep crude oil prices elevated for an extended period, with benchmark prices averaging USD 96 per barrel in 2026 and remaining around USD 80 per barrel in 2027, according to Asian Development Bank (ADB) Chief Economist Albert Park.

“With a higher oil price expectation, we actually have it as USD 96 per barrel as average for 2026 as per the new reference scenario. It should stay elevated at USD 80 per barrel in 2027. So, our idea is that the oil prices are likely to stay higher for longer,” Park told PTI in an interview.

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