IMF says oil price currently close to baseline April forecast

WASHINGTON, June 4 (Reuters) - The International Monetary Fund said on Thursday that oil prices are currently only about 3% higher than levels used in its baseline global growth forecast in April, but physical spot prices remain volatile and global reserves continue to fall.

Brent crude futures prices LCOc1 have fallen in recent days, to about $86.18 on Thursday. The IMF's World Economic Outlook global growth forecast for 3.1% global real GDP growth was based on an average oil price of $82.22 per barrel. The forecast, issued after prices spiked higher in March, assumed a quick end to the conflict.

IMF spokesperson Julie Kozack told a regular news briefing that stability in oil prices was dependent on reopening the Strait of Hormuz.


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