In 2021, world oil prices will rise by more than 20 percent from last year, the International Monetary Fund (IMF) promised. The organization’s January report says that oil prices will nevertheless remain well below 2019 levels.
The IMF also predicts an increase in prices for other goods, in particular, an increase in metal prices is expected. “To bring the pandemic under control everywhere requires active multilateral cooperation,” the report says.
In general, the world economy this year will grow by 5.5 percent. Russia is expected to grow by 3 percent instead of the 2.8 percent it forecast in October. An increase of 3.9 percent is expected in 2022. However, there are still risks for a sustainable recovery of the global economy, in particular, the emergence of new strains of coronavirus, the IMF warned.
Against the backdrop of a global drop in oil demand, the supertankers that were used to transport it turned out to be unnecessary. Now they can be sent for scrap, such a fate can befall 2 percent of all supertankers in the world. This will mainly affect ships over 15 years old.