The 2023 Oil Price Outlook
January 31, 2023 - 5:30PM-8:00PM EST
This year promises to be another nearly impossible one to forecast. We not only have the usual uncertainties about shifts in demand and supply cycles, but we also have to deal with the entire trend and regime shifts. Think for instance about Russia’s aggression and EU embargoes forcing wholesale change to global energy trade flows, or a less responsive US supply side, or a suddenly accelerating (or is it decelerating) energy transition. And there are profound questions to answer. How much less oil will be traded against Brent and WTI benchmarks and will that sustain historic volatility? Will there be peace in eastern Europe again, and is that bullish or bearish?