The European Commission raised its forecast for the price of a barrel of Brent crude in 2018

The European Commission (EC) forecasts a significant increase in the average price of Brent oil in 2018 - to more than $68 per barrel. This is stated in the report of the EC winter economic forecast, reports TASS.

"It is projected that the price of Brent crude oil will be an average of $68.3 per barrel in 2018 and $64.2 per barrel in 2019," the document says.

In the autumn economic report, the EC predicted a significantly lower price of Brent oil- $ 55.7 per barrel in 2018 and $54.7 per barrel in 2019.

The European Commission also forecasts growth of the economies of the EU member States and the Eurozone during 2018-2019. "The economy of the Eurozone and the EU in 2017 increased by 2.4%, which is the fastest growth in a decade. This rate will continue in 2018 and 2019 with an increase of 2.3% and 2%, respectively," the document says.

In addition, the EC estimated the growth of consumer prices in the Eurozone in 2018 at 1.5%, rather than 1.4%, as expected in the autumn forecast.

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