NEW YORK and LONDON, Dec. 12, 2022 /PRNewswire/ — Analysts at S&P Global Commodity Insights, the leading independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy and energy transition markets, today released the latest 2023 energy outlook. “China’s COVID policy is the most important fundamental factor for global demand in commodities and energy in 2023,” according to Dan Klein, Head of Energy Pathways, S&P Global Commodity Insights, “as its demand softness due to lockdowns in 2022 was a key safety valve for oil, gas, and coal markets, while Europe scrambled to replace Russian energy. With another year of vaccinations and growing frustrations with lockdowns domestically in China, restrictions will likely ease somewhat in 2023 and imports of fossil fuels can be expected to increase again.” The S&P Global Commodity Insights Energy Outlook 2023 presumes China’s total energy demand will increase by 3.3 million barrels of oil equivalent per day, up from virtually no growth in 2022. This will represent 47% of global energy demand growth next year. While China’s imports will likely return to growth a growth pathway, India has been a strong demand performer over the past year, with imports of oil […]
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