Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the cost of a barrel of crude oil over the next 12 months.

Future oil prices are inherently uncertain. In their October 2018 Economic and Fiscal Outlook the OBR assumed oil prices would average 80.2 US dollars per barrel in 2019 based on forward market prices, although oil prices have subsequently fallen in recent weeks. See https://obr.uk/download/october-2018-economic-and-fiscal-outlook-supplementary-economy-tables/ (Table 1.9).