Commodity Markets Outlook, October 2015

Ample supplies and weak demand, especially for industrial commodities, contributed to the continued slide in most commodity prices in the third quarter of 2015. Annual price forecasts are revised down for 2015 and 2016. Only a modest recovery is expected in 2016. This issue briefly analyzes the imp...

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Bibliographic Details
Main Author:	World Bank Group
Format:	Report
Language:	en_US
Published:	World Bank, Washington, DC 2015
Subjects:	price forecasts oil market supply conditions mining capacity commodity consumption global demand food commodity prices commodity trade balances
Online Access:	http://hdl.handle.net/10986/22786

id	okr-10986-22786
recordtype	oai_dc
spelling	okr-10986-227862017-12-14T05:32:35Z Commodity Markets Outlook, October 2015 World Bank Group price forecasts oil market supply conditions mining capacity commodity consumption global demand food commodity prices commodity trade balances Ample supplies and weak demand, especially for industrial commodities, contributed to the continued slide in most commodity prices in the third quarter of 2015. Annual price forecasts are revised down for 2015 and 2016. Only a modest recovery is expected in 2016. This issue briefly analyzes the implications of the ongoing El Niño episode and the recent Nuclear Agreement with Iran for agricultural and energy markets, respectively. Although El Niño could be the strongest on record, its impact is likely to be predominantly local rather than global because world commodity markets are currently well supplied and spillovers from local markets to global prices are typically weak. Following Iran’s Nuclear Agreement, the country’s 40 million barrels in floating storage could be made available almost immediately upon sanctions being lifted; and, within a few months, Iran could increase its crude oil production toward pre-sanctions levels. The impact of Iranian exports on global oil and natural gas markets could be large over the longer term provided that Iran attracts the necessary foreign investment and technology to extract its substantial reserves. 2015-10-20T23:40:28Z 2015-10-20T23:40:28Z 2015-10-20 Report http://hdl.handle.net/10986/22786 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Publication
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	en_US
topic	price forecasts oil market supply conditions mining capacity commodity consumption global demand food commodity prices commodity trade balances
spellingShingle	price forecasts oil market supply conditions mining capacity commodity consumption global demand food commodity prices commodity trade balances World Bank Group Commodity Markets Outlook, October 2015
description	Ample supplies and weak demand, especially for industrial commodities, contributed to the continued slide in most commodity prices in the third quarter of 2015. Annual price forecasts are revised down for 2015 and 2016. Only a modest recovery is expected in 2016. This issue briefly analyzes the implications of the ongoing El Niño episode and the recent Nuclear Agreement with Iran for agricultural and energy markets, respectively. Although El Niño could be the strongest on record, its impact is likely to be predominantly local rather than global because world commodity markets are currently well supplied and spillovers from local markets to global prices are typically weak. Following Iran’s Nuclear Agreement, the country’s 40 million barrels in floating storage could be made available almost immediately upon sanctions being lifted; and, within a few months, Iran could increase its crude oil production toward pre-sanctions levels. The impact of Iranian exports on global oil and natural gas markets could be large over the longer term provided that Iran attracts the necessary foreign investment and technology to extract its substantial reserves.
format	Report
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Commodity Markets Outlook, October 2015
title_short	Commodity Markets Outlook, October 2015
title_full	Commodity Markets Outlook, October 2015
title_fullStr	Commodity Markets Outlook, October 2015
title_full_unstemmed	Commodity Markets Outlook, October 2015
title_sort	commodity markets outlook, october 2015
publisher	World Bank, Washington, DC
publishDate	2015
url	http://hdl.handle.net/10986/22786
_version_	1764452185553240064

Commodity Markets Outlook, October 2015

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