The commodity is expected to drop from an average of USD 68 in 2025 to USD 60 in 2026, a movement influenced by slower global demand growth.
The World Bank forecasts that Brent crude oil — the benchmark for Angola’s exports — will fall to $60 per barrel in 2026, the lowest level in five years, driven by sluggish global demand, the expansion of electric vehicles, and stagnant consumption in China.
The projection is included in the latest “Commodity Markets Outlook” report, released on Wednesday (29).
According to the document, commodity prices are expected to decline by 7% in both 2025 and 2026, pressured by weak global economic growth, persistent political uncertainty, and a growing oil surplus. The analysis indicates that global commodity prices will fall to their lowest level in six years.
Despite the projected decline, the World Bank notes that commodity prices will remain above pre-pandemic levels. Prices for this year and next are projected to be 23% and 14% higher than those recorded in 2019, respectively.
The World Bank’s report highlights that the drop in energy prices is helping to ease global inflation, but warns that this effect “may not last,” urging policymakers to remain cautious.
Indermit Gill, Chief Economist of the World Bank Group, stated in the report that “commodity markets are helping to stabilize the global economy.”
Source: Economia & Mercado
