Lower oil demand likely to persist beyond 2021

PLUS: Replay our 2020 Annual Meetings events. [Having trouble seeing this email?](  [Photo: © Shutterstock](  [Impact of COVID-19 on commodity markets heaviest on energy prices; lower oil demand likely to persist beyond 2021]( While metal and agricultural commodities have recouped their losses from the COVID-19 pandemic and are expected to make modest gains in 2021, energy prices, despite some recovery, are expected to stabilize below pre-pandemic levels next year, the World Bank said. [The Commodity Markets Outlook in eight charts]( [Facebook]( [Twitter](  [Shona Banu Begum, 55, lives in Patarkhola village of Ramzan Nagar union at Shyamnagar upazila in Satkhira with her son, daughter-in-law and their two grandchildren. She usually works in a brick kiln, while her son cannot perform heavy labour due to a heart condition. The Covid-19 pandemic and subsequent Cyclone Amphan took away whatever working opportunities that remained, leaving them in desperate need for more financial aid to make ends meet. Photo: © UN Women Asia and the Pacific](  [Four cornerstones of a resilient recovery for all]( In every part of the world, the poorest are suffering most, and the World Bank’s recently released Poverty and Shared Prosperity Report estimates that global extreme poverty will rise this year for the first time in a generation. These are four interconnected takeaways to date to better inform and accelerate our collective actions. [Facebook]( [Twitter]( [The mobile and digital gender gap is not going to close on its own. We need to collaborate and take coordinated action. Photo: © Getty Images](  [As countries look to recover from COVID-19, equal access to digital technologies will be vital]( Even before the pandemic, women in low- and middle-income countries were 8 percent less likely than men to own a mobile phone. And 300 million fewer women than men use mobile internet, representing a gender gap of 20 percent. This digital gender divide is now expected to worsen because of COVID-19. [Facebook]( [Twitter]( --------------------------------------------------------------- Blog --------------------------------------------------------------- [Berber kids in the village in High Atlas Mountains of Morocco. (Shutterstock.com/Sergiy Velychko) ]( [MENA: The time to act is now]( "Prior to the onset of COVID-19, MENA was the only region in the world where extreme poverty was increasing, driving by conflicts in Yemen, Libya, and Syria. The economic downturn in Lebanon reinforced this trend. COVID worsened the situation further. Three million additional people are projected to have fallen into extreme poverty in the MENA region due to COVID alone." — Ferid Belhaj and Nadir Mohammed, October 15 [Facebook]( [Twitter](  --------------------------------------------------------------- Broadcast Series & Virtual Events --------------------------------------------------------------- [© World Bank Group]( [Replay our Annual Meetings events!]( Supporting a resilient recovery was front-and-center at this year’s Annual Meetings. Hear from the world’s top development champions & leaders as they discussed debt, sustainable recovery, human capital, digital development and poverty. Watch the event replays! [Facebook]( [Twitter]( --------------------------------------------------------------- Social Media --------------------------------------------------------------- [“We need to move with urgency to provide a meaningful reduction in the stock of #debt for countries in debt distress.” - @DavidMalpassWBG at @FrankfurtSchool ahead of World Bank-IMF Annual Meetings. Watch the event replay: #ResilientRecovery]( [Our digital mosaic is now complete! Thank YOU for showing your support for a #ResilientRecovery. See what we've created together and check your picture here: ( --------------------------------------------------------------- In the News --------------------------------------------------------------- - [1 in 6 children lives in extreme poverty, World Bank-UNICEF analysis shows]( - [World Bank Prices USD 6 Billion 5-Year Sustainable Development Bond]( --------------------------------------------------------------- Jobs --------------------------------------------------------------- - [E T Consultant, Knowledge Management – Washington, DC]( - [Human Development Specialist – Ankara,Turkey]( --------------------------------------------------------------- Data Viz --------------------------------------------------------------- [Chart: Children in Poverty ]( estimated 1 in 6 children—or 356 million globally—lived in extreme poverty before the pandemic, and this is set to worsen significantly, according to a new World Bank Group-UNICEF analysis. It shows that the number of children living in extreme poverty decreased by 29 million between 2013 and 2017. However, UNICEF and the World Bank Group warn that child poverty worsened considerably in 2020 due to the adverse economic impacts of the Covid-19 pandemic, making it more crucial than ever that governments support poor households with children now and rebuild their human capital during the recovery. [Learn more>>]( [facebook]( [twitter]( [instagram]( [instagram]( [instagram]( Accredited journalists may obtain advance access to reports and information by registering with the Bank's [Online Media Briefing Center]( a password-protected site for working journalists. Material in this newsletter is copyrighted. Requests to reproduce it, in whole or in part, should be addressed to pubrights@worldbank.org For more information visit our website: [worldbank.org](. 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