Oil and gas prices to remain high in Europe at least until the end of 2027, officials say
Officials said energy inflation will keep pushing up other prices and trim eurozone growth forecasts to 0.9% this year and 1.2% in 2027.
- European Union officials in NICOSIA warned on Friday that oil and gas prices will remain above pre-Iran war levels at least through 2027, with prices of other goods also rising.
- Europe faces compounded vulnerabilities: the region spent the past two years stabilizing after one energy crisis before confronting another, while pre-Iran war power prices already ran more than twice U.S. levels and roughly 50% above China.
- Economy Commissioner Valdis Dombrovskis stated higher energy costs are driving inflation to 3.1% this year and 2.4% in 2027, while Eurogroup President Kyriakos Pierrakakis cut growth projections to 0.9% for this year.
- European Central Bank President Christine Lagarde pledged the ECB would take "all the necessary measures" to defend its 2% medium-term inflation target through a data-dependent, meeting-by-meeting approach.
- Even if Middle East conflicts ended immediately, "lagging effects" would keep prices elevated, officials warned, drawing parallels to lingering distortions that persisted years after Russia's invasion of Ukraine.
25 Articles
25 Articles
EU officials forecast high oil, gas prices until ’27 | Northwest Arkansas Democrat-Gazette
NICOSIA, Cyprus -- European Union officials said Friday that Europeans can expect oil and gas prices to remain above what they were before the Iran war for at least until the end of 2027, with prices of other goods also following an upward trajectory.
Associated Press News
Oil and gas prices to remain high in Europe at least until the end of 2027, officials say
European Union officials say that Europeans can expect oil and gas prices to remain above what they were before the Iran war for at least until the end of 2027.
Europe Energy Prices to Remain High Through 2027 at Least, Officials Say
European Union officials say that Europeans can expect oil and gas prices to remain above what they were before the Iran war for at least until the end of 2027 Europe Energy Prices to Remain High Through 2027 at Least, Officials Say.
EU Warns Energy Prices Will Stay Elevated Through 2027
Top EU officials said Friday that oil and gas prices are expected to remain elevated through at least the end of 2027, with the fallout from the Iran war likely to keep pressure on inflation and economic growth. Speaking after a meeting of eurozone finance ministers in Cyprus on Friday, EU Economy Commissioner Valdis Dombrovskis said higher energy costs are now expected to drive inflation to 3.1% this year and 2.4% in 2027—well above the bloc’s …
European Union officials warned that energy prices will remain high until the end of 2027, while the European Central Bank keeps an eye on inflation and economic growth, according to information disseminated by 'Associated Press'.
European Union officials said on Friday that Europeans can expect oil and gas prices to remain above pre-war levels with Iran at least until the end of 2027, and that prices for other goods also follow an upward trajectory.
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