World Bank Cuts Global Growth Outlook, Sees 2026 Brent Crude at $94
The World Bank cut its outlook for global growth this year, saying the Middle East war has worsened prospects for two-thirds of economies by disrupting commodity flows and raising import costs. It now projects average commodity prices will rise 22% in 2026, reversing a January forecast for a 7% decline, and sees Brent crude averaging $94 a barrel in 2026, $34 above its January forecast.
The bank also cut its 2026 GDP growth forecast for the Middle East to 1.6% from 4.3% in January and from 4% in 2025. The revisions point to a deeper hit to the region even as higher oil and other commodity prices feed through to import costs elsewhere.
From the sources (5 posts)
@financialjuiceWorld Bank: Average commodity prices projected to rise by 22% in 2026, sharp reversal from 7% decline forecast in January.
@financialjuiceWorld Bank forecasts US 2026 GDP growth rate at 2.2%, unchanged from January forecast, up from 2.1% in 2025.
@financialjuiceWorld Bank forecasts average Brent Crude prices at $94 per barrel in 2026, up $34 from January forecast
@financialjuiceWorld Bank cuts 2026 GDP growth forecast for the Middle East region to 1.6% vs 4.3% in the January forecast, 4% in 2025.
@businessThe World Bank cut its outlook for global growth this year and said two-thirds of economies have seen prospects deteriorate as the Middle East war disrupts commodity flows and raises the cost of imports.