Commodity Markets Outlook, October 2021

Commodity prices have risen to high levels by historical standards. Energy prices have increased sharply, especially for natural gas and coal, while most non-energy prices have plateaued after steep increases earlier in the year. Crude oil prices are forecast to average $74/bbl in 2022, up from a pr...

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Main Author:	World Bank Group
Format:	Serial
Published:	World Bank, Washington, DC 2021
Subjects:	COMMODITY PRICES ENERGY AGRICULTURE METALS AND MINERALS PRECIOUS METALS PRICE FORECASTS PRICE SERIES OIL PRICES FOOD PRICES ECONOMIC OUTLOOK PANDEMIC IMPACT
Online Access:	http://hdl.handle.net/10986/36350

id	okr-10986-36350
recordtype	oai_dc
spelling	okr-10986-363502021-10-22T17:52:19Z Commodity Markets Outlook, October 2021 World Bank Group COMMODITY PRICES ENERGY AGRICULTURE METALS AND MINERALS PRECIOUS METALS PRICE FORECASTS PRICE SERIES OIL PRICES FOOD PRICES ECONOMIC OUTLOOK PANDEMIC IMPACT Commodity prices have risen to high levels by historical standards. Energy prices have increased sharply, especially for natural gas and coal, while most non-energy prices have plateaued after steep increases earlier in the year. Crude oil prices are forecast to average $74/bbl in 2022, up from a projected $70/bbl in 2021. After registering more than 48 percent increase this year, metal prices are projected to decline 5 percent in 2022. Agricultural prices, which are projected to rise more than 20 percent this year, are expected to broadly stabilize in 2022. These forecasts are subject to substantial risks, from adverse weather, further supply constraints, or additional outbreaks of COVID-19. Energy prices are particularly at risk of additional volatility in the near-term given low inventory levels. A Special Focus section explores the impact of urbanization on commodity demand. Although cities are often associated with increased demand for energy commodities (and hence greenhouse gas emissions) the report finds that high-density cities, particularly in advanced economies, can have lower per capita energy demand than low-density cities. As the share of people living in urban areas is expected to continue to rise, these results highlight the need for strategic urban planning to maximize the beneficial elements of cities and mitigate their negative impacts. 2021-10-12T21:07:18Z 2021-10-12T21:07:18Z 2021-10-21 Serial http://hdl.handle.net/10986/36350 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 ENERGY AGRICULTURE METALS AND MINERALS PRECIOUS METALS PRICE FORECASTS PRICE SERIES OIL PRICES FOOD PRICES ECONOMIC OUTLOOK PANDEMIC IMPACT
spellingShingle	COMMODITY PRICES ENERGY AGRICULTURE METALS AND MINERALS PRECIOUS METALS PRICE FORECASTS PRICE SERIES OIL PRICES FOOD PRICES ECONOMIC OUTLOOK PANDEMIC IMPACT World Bank Group Commodity Markets Outlook, October 2021
description	Commodity prices have risen to high levels by historical standards. Energy prices have increased sharply, especially for natural gas and coal, while most non-energy prices have plateaued after steep increases earlier in the year. Crude oil prices are forecast to average $74/bbl in 2022, up from a projected $70/bbl in 2021. After registering more than 48 percent increase this year, metal prices are projected to decline 5 percent in 2022. Agricultural prices, which are projected to rise more than 20 percent this year, are expected to broadly stabilize in 2022. These forecasts are subject to substantial risks, from adverse weather, further supply constraints, or additional outbreaks of COVID-19. Energy prices are particularly at risk of additional volatility in the near-term given low inventory levels. A Special Focus section explores the impact of urbanization on commodity demand. Although cities are often associated with increased demand for energy commodities (and hence greenhouse gas emissions) the report finds that high-density cities, particularly in advanced economies, can have lower per capita energy demand than low-density cities. As the share of people living in urban areas is expected to continue to rise, these results highlight the need for strategic urban planning to maximize the beneficial elements of cities and mitigate their negative impacts.
format	Serial
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Commodity Markets Outlook, October 2021
title_short	Commodity Markets Outlook, October 2021
title_full	Commodity Markets Outlook, October 2021
title_fullStr	Commodity Markets Outlook, October 2021
title_full_unstemmed	Commodity Markets Outlook, October 2021
title_sort	commodity markets outlook, october 2021
publisher	World Bank, Washington, DC
publishDate	2021
url	http://hdl.handle.net/10986/36350
_version_	1764485126822035456

Commodity Markets Outlook, October 2021

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