IEA: 2023 markets may be more tense than some believe – Fatih Birol

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The head of the International Energy Agency (IEA), Fatih Birol, stated on Thursday that “we may see tighter markets in 2023, more so than some think“.

Additional comments

No tensions are seen in the market at the moment, but you have to be aware of uncertainties.

two uncertainties to highlight are Russia and China.

If the Chinese economy rebounds this year, as expected, there will be higher demand that will put pressure on the markets.

More tense markets will be seen in 2023more than some believe.

Russian oil exports appear to hold up longer than previously thought.

Russian oil exports, declining according to IEA forecasts, will continue to fall in the first quarter and beyond.

There are questions about Russia’s ability to export due to sanctions and its own challenges.

Source: Fx Street

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