WashingtonGlobal oil supply will fall 5.2% in 2026, the World Bank says.
Commodity prices rise 23% this year, worsening inflation and food insecurity, the bank’s deputy chief economist warned.
Middle East shipping disruption, Black Sea grain problems and gold demand drive the surge, the bank says.
The bank expects prices to ease 7% in 2027, but the worst El Niño since 1950 could keep food costly.
Its adverse scenario puts food prices 12% higher, a crisis like the early 2010s, when over 40 million more fell into extreme poverty.
Sources: Dawn