Oil prices, defined as an average of Brent , West Texas Intermediate , and Dubai prices , are expected to rise to an average of $44 per barrel next year and $50 a barrel in 2022, up from expected $41 in 2020, the World Bank said on Wednesday in its latest report on Russia. According to the World Bank, the COVID-19 pandemic will continue to impact global oil demand, with consumption still below pre-pandemic levels next year. Oil consumption is expected to remain around 5 percent lower than in 2019 by the end of 2021, the World Bank said. The outlook for oil production in Russia, whose energy exports are key to budget revenues, will depend on the duration and depth of the OPEC+ oil production cuts, the World Bank said. While a better-than-expected economic rebound in the third quarter of 2020 prompted the World Bank to revise up […]