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Commodity Markets Outlook

While metal and agricultural commodities have recouped their losses, energy prices are expected to stabilize below pre-pandemic levels next year.

Photo: © Shutterstock
COVID-19: Resilient Recovery

While money remains tight, Morocco will need to safeguard education spending to limit the intergenerational transmission of poverty.

Children read in their classroom at a school in Morocco. Photo: © Dana Smillie/World Bank
COVID-19: Resilient Recovery

When it became virtually impossible to find frontline protective products against COVID-19, Chad launched its first ever production of these flasks.

The Ministry of Health has used the structures and equipment already in place, such as this laboratory set up and equipped by the SWEDD project in 2019, to manufacture hand sanitizer in record time. Photo: © Edmond Dingamhoudou/World Bank
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Commodity Price Recovery from the Pandemic Has Been Uneven

Almost all commodity prices recovered in the third quarter following steep declines earlier in the year due to the COVID-19 pandemic. Crude oil prices have doubled since their April low, supported by sharp oil supply cuts, but prices remain one-third lower than pre-pandemic.  Metal prices recovered rapidly in response to a faster-than-expected pick up of China’s industrial activity. Some food prices have also risen. Looking ahead, oil prices are expected to increase gradually from current levels and average $44 per barrel in 2021, up from an estimated $41 per barrel this year, as a slow recovery in demand is matched by an easing in supply restraint. Metal and agricultural prices are projected to see modest gains in 2021. The main risk to price forecasts is the duration of the pandemic, including the risk of an intensifying second wave in the Northern Hemisphere. Explore Data


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