Commodity prices likely to rise further in 2018: World Bank

CMO2017c_PR_table01Oil prices to average $56 a barrel in 2018, up from 2017 average of $53/bbl

WASHINGTON, October 26 – Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing U.S. shale oil production, while the surge in metals prices is expected to level off next year, the World Bank said on Thursday.

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