CMO-October-2025_66页_1mb

Commodity Markets Outlook Summary (October 2025)

A World Bank Group Report

Overall Outlook

• Commodity prices expected to decline by 7% in 2025 (y/y), led by subdued global growth, elevated trade tensions, ample oil supply, and supply shocks.
• Further 7% decline in 2026, marking the fourth consecutive year of price decreases following pandemic-driven spikes.
• Energy prices will contribute to global disinflation; metals and minerals prices remain stable in 2026, while agricultural prices edge lower. Precious metals prices rise 5% in 2026, building on a ~40% increase in 2025.
• Risks are tilted to the downside due to weaker growth, prolonged uncertainty, and potential oil oversupply. Upside risks include geopolitical tensions, sanctions, and trade restrictions.55 Please keep in mind that this is the summary of a placeholder product related to a previous request I responded to about a Commodity Markets Outlook report from the World Bank.

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