Lower oil demand likely to persist beyond 2021 due to COVID-19 pandemic: World Bank


  • World
  • Friday, 23 Oct 2020

WASHINGTON, Oct. 22 (Xinhua) -- While metal and agricultural commodities have recouped their losses from the COVID-19 pandemic and are expected to make modest gains in 2021, energy prices, despite some recovery, are expected to stabilize below pre-pandemic levels next year, the World Bank said Thursday.

Oil prices fell dramatically in the early stages of COVID-19 and have only partially regained pre-pandemic price levels, according to the World Bank's semi-annual Commodity Markets Outlook report.

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