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Commodity Markets Outlook, April 2020

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collection.link.32
https://openknowledge.worldbank.org/handle/10986/2140
collection.name.32
Global Economic Prospects
dc.contributor.author
World Bank Group
dc.date.accessioned
2020-04-20T21:04:12Z
dc.date.available
2020-04-20T21:04:12Z
dc.date.issued
2020-04-23
dc.date.lastModified
2020-04-30T16:55:21Z
dc.description.abstract
Almost all commodity prices saw sharp declines during the past three months as the COVID-19 pandemic worsened. Mitigation measures have significantly reduced transport, causing an unprecedented decline in demand for oil, while weaker economic growth will further reduce overall commodity demand. Crude oil prices are expected to average $35/bbl this year and $42/bbl in 2021—sharp downward revisions from October. Metals prices are projected to drop more than 13 percent in 2020, before recovering in 2021, while food prices are expected to remain broadly stable. The price forecasts are subject to significant risks. A Special Focus looks at the impact of COVID-19 on commodity markets and finds that its effects have already been larger than most previous events and may lead to long-term shifts in global commodity markets. Another section looks at international commodity production agreements and concludes that while the current OPEC arrangement may stabilize oil markets in the short term, it will likely be subject to the same shortcomings of earlier efforts to manage commodity supplies in due course.
en
dc.identifier
http://documents.worldbank.org/curated/en/543311587659880031/Commodity-Markets-Outlook-April-2020
dc.identifier.uri
http://hdl.handle.net/10986/33624
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
COMMODITY PRICES
dc.subject
ECONOMIC OUTLOOK
dc.subject
ENERGY
dc.subject
AGRICULTURE
dc.subject
METALS
dc.subject
PRECIOUS METALS
dc.subject
MINERALS
dc.subject
PRICE SERIES
dc.subject
PRICE FORECASTS
dc.subject
PRICE INDICES
dc.subject
OIL PRICES
dc.subject
FOOD PRICES
dc.subject
CORONAVIRUS
dc.subject
COVID-19
dc.subject
OPEC
dc.subject
ECONOMIC CRISIS
dc.subject
PANDEMIC IMPACT
dc.title
Commodity Markets Outlook, April 2020
en
dc.type
Serial
en
okr.date.disclosure
2020-04-23
okr.doctype
Publications & Research
okr.googlescholar.linkpresent
yes
okr.identifier.report
147940
okr.language.supported
en
okr.topic
Agriculture :: Agricultural Sector Economics
okr.topic
Energy :: Energy Markets
okr.topic
Energy :: Oil & Gas
okr.topic
Macroeconomics and Economic Growth :: Commodities
okr.topic
Macroeconomics and Economic Growth :: Economic Conditions and Volatility
okr.topic
Macroeconomics and Economic Growth :: Economic Forecasting
okr.unit
Prospects Group

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