Global commodity prices should fall to a five-year low next year thanks to a huge oil glut, the World Bank said Tuesday, pointing to oversupply and to flat demand from China.
"Next year, the global oil supply is expected to exceed demand by an average of 1.2 million barrels per day," the Bank announced in its latest report on global commodity markets, adding that this scale of oversupply has been exceeded only twice before, in 1998 and 2020.
