Commodity Markets Outlook, April 2020

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. Crud...

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Main Author:	World Bank Group
Format:	Serial
Published:	World Bank, Washington, DC 2020
Subjects:	COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES CORONAVIRUS COVID-19 OPEC ECONOMIC CRISIS PANDEMIC IMPACT
Online Access:	http://documents.worldbank.org/curated/en/543311587659880031/Commodity-Markets-Outlook-April-2020 http://hdl.handle.net/10986/33624

id	okr-10986-33624
recordtype	oai_dc
spelling	okr-10986-336242021-05-25T10:54:43Z Commodity Markets Outlook, April 2020 World Bank Group COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES CORONAVIRUS COVID-19 OPEC ECONOMIC CRISIS PANDEMIC IMPACT 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. 2020-04-20T21:04:12Z 2020-04-20T21:04:12Z 2020-04-23 Serial http://documents.worldbank.org/curated/en/543311587659880031/Commodity-Markets-Outlook-April-2020 http://hdl.handle.net/10986/33624 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research
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 CORONAVIRUS COVID-19 OPEC ECONOMIC CRISIS PANDEMIC IMPACT
spellingShingle	COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES CORONAVIRUS COVID-19 OPEC ECONOMIC CRISIS PANDEMIC IMPACT World Bank Group Commodity Markets Outlook, April 2020
description	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.
format	Serial
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Commodity Markets Outlook, April 2020
title_short	Commodity Markets Outlook, April 2020
title_full	Commodity Markets Outlook, April 2020
title_fullStr	Commodity Markets Outlook, April 2020
title_full_unstemmed	Commodity Markets Outlook, April 2020
title_sort	commodity markets outlook, april 2020
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/543311587659880031/Commodity-Markets-Outlook-April-2020 http://hdl.handle.net/10986/33624
_version_	1764479165080272896

Commodity Markets Outlook, April 2020

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