Commodity Markets Outlook, October 2018

Commodity prices in the third quarter of 2018 were buffeted by geopolitical and macroeconomic events. Energy prices gained 3 percent in 2018 Q3 (q/q), partly in response to the impending re-imposition of sanctions on Iran by the United States along with continuing declines in production in Venezue...

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Main Author:	World Bank Group
Format:	Serial
Published:	World Bank, Washington, DC 2018
Subjects:	COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES
Online Access:	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/678081540845321639/commodity-markets-outlook-the-changing-of-the-guard-shifts-in-commodity-demand http://hdl.handle.net/10986/30614

id	okr-10986-30614
recordtype	oai_dc
spelling	okr-10986-306142021-05-25T09:43:35Z Commodity Markets Outlook, October 2018 World Bank Group COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES Commodity prices in the third quarter of 2018 were buffeted by geopolitical and macroeconomic events. Energy prices gained 3 percent in 2018 Q3 (q/q), partly in response to the impending re-imposition of sanctions on Iran by the United States along with continuing declines in production in Venezuela. As a result, crude oil prices are expected to average $72 per barrel (bbl) in 2018 (up from $53/bbl in 2017) and $74/bbl in 2019. This represents a sizable upward revision from the April 2018 forecast. Moreover, risks to the oil price forecast are to the upside in the short-term, given the recent decline in spare capacity. In contrast, metal and agricultural prices declined 10 and 7 percent, respectively, in the third quarter of 2018 amid robust supplies and trade disputes. Metal prices are expected to stabilize in 2019 whereas agricultural prices are expected to gain almost 2 percent. This edition also examines how energy and metal commodity markets have evolved over the past 20 years. It shows that China has been the main driver of commodity demand growth, particularly for coal and metals, but that its demand is likely to slow while other emerging market economies are unlikely to emulate China. 2018-10-29T15:47:38Z 2018-10-29T15:47:38Z 2019 Serial https://documents.worldbank.org/en/publication/documents-reports/documentdetail/678081540845321639/commodity-markets-outlook-the-changing-of-the-guard-shifts-in-commodity-demand http://hdl.handle.net/10986/30614 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES
spellingShingle	COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES World Bank Group Commodity Markets Outlook, October 2018
description	Commodity prices in the third quarter of 2018 were buffeted by geopolitical and macroeconomic events. Energy prices gained 3 percent in 2018 Q3 (q/q), partly in response to the impending re-imposition of sanctions on Iran by the United States along with continuing declines in production in Venezuela. As a result, crude oil prices are expected to average $72 per barrel (bbl) in 2018 (up from $53/bbl in 2017) and $74/bbl in 2019. This represents a sizable upward revision from the April 2018 forecast. Moreover, risks to the oil price forecast are to the upside in the short-term, given the recent decline in spare capacity. In contrast, metal and agricultural prices declined 10 and 7 percent, respectively, in the third quarter of 2018 amid robust supplies and trade disputes. Metal prices are expected to stabilize in 2019 whereas agricultural prices are expected to gain almost 2 percent. This edition also examines how energy and metal commodity markets have evolved over the past 20 years. It shows that China has been the main driver of commodity demand growth, particularly for coal and metals, but that its demand is likely to slow while other emerging market economies are unlikely to emulate China.
format	Serial
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Commodity Markets Outlook, October 2018
title_short	Commodity Markets Outlook, October 2018
title_full	Commodity Markets Outlook, October 2018
title_fullStr	Commodity Markets Outlook, October 2018
title_full_unstemmed	Commodity Markets Outlook, October 2018
title_sort	commodity markets outlook, october 2018
publisher	World Bank, Washington, DC
publishDate	2018
url	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/678081540845321639/commodity-markets-outlook-the-changing-of-the-guard-shifts-in-commodity-demand http://hdl.handle.net/10986/30614
_version_	1764472481663418368

Commodity Markets Outlook, October 2018

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