International Monetary Fund Managing Director Kristalina Georgieva said in Singapore on the 7th that even if the current war in the Gulf region ends soon, high energy prices may continue for some time. Speaking at the International Monetary Fund and World Bank Group 2026 Fall Annual Meeting warm-up event on the same day, Georgieva said that judging from the current Brent crude oil futures price trend, it is expected that high oil prices will continue until 2027. She said, “So far, although the impact on energy prices has been large, it is still generally within manageable limits. This is mainly due to energy efficiency, diversification of fuel sources, reserve release, supply chain flexibility, and normal market supply and demand regulation.” She pointed out that although energy supply in the Gulf region is slowly recovering, due to factors such as high transportation costs, international oil prices currently remain at about 100 US dollars per barrel. Furthermore, due to insufficient global refining capacity, retail prices of refined oil products such as diesel are at historically high levels. Georgieva said that gas supply in the Gulf region is also still being seriously affected, especially with limited transportation channels for liquefied natural gas. This impact is likely to continue as long as shipping through the Strait of Hormuz remains threatened. “As countries replenish their energy reserves, and as the cold season in the northern hemisphere approaches and energy demand rises, the upward pressure on energy prices is likely to increase further.” she said.

International Monetary Fund Managing Director Kristalina Georgieva said in Singapore on the 7th that even if the current war in the Gulf region ends soon, high energy prices may continue for some time. Speaking at the International Monetary Fund and World Bank Group 2026 Fall Annual Meeting warm-up event on the same day, Georgieva said that judging from the current Brent crude oil futures price trend, it is expected that high oil prices will continue until 2027. She said, “So far, although the impact on energy prices has been large, it is still generally within manageable limits. This is mainly due to energy efficiency, diversification of fuel sources, reserve release, supply chain flexibility, and normal market supply and demand regulation.” She pointed out that although energy supply in the Gulf region is slowly recovering, due to factors such as high transportation costs, international oil prices currently remain at about 100 US dollars per barrel. Furthermore, due to insufficient global refining capacity, retail prices of refined oil products such as diesel are at historically high levels. Georgieva said that the supply of natural gas in the Gulf region is also still seriously affected, especially the limited transportation channels for liquefied natural gas. This impact is likely to continue as long as shipping through the Strait of Hormuz remains threatened. “As countries replenish their energy reserves, and as the cold season in the northern hemisphere approaches and energy demand rises, the upward pressure on energy prices is likely to increase further.” she said.