The World Bank approved an $875 million financing package for Côte d’Ivoire and signed an interim agreement with Eni’s local unit to support development of the country’s growing natural gas sector, including technical assistance for its Gas Master Plan.
The price of crude oil is expected to average $64 per barrel in 2025, the World Bank has revealed in its April 2025 Commodity Markets Outlook.
This is compared with $80.7 per barrel in 2024.
The Bretton Woods institution is forecasting a further drop in the price of crude oil to an average of $60 in 2025.
A World Bank blog makes the case for green hydrogen becoming a major economic driver for the economy.
The war in the Middle East could push crude oil prices to $150 per barrel if it spreads across the region, the World Bank warned this week.
Redirecting the $577 billion in government subsidies for fossil fuels could unlock at least half a trillion dollars that could be put to more sustainable uses, the World Bank said in a new report.