Open figure viewer
Significance
In a tight market, even small supply disruptions acquire heightened significance. Greater uncertainty, partly reflecting the ascendence of political over economic factors in the market, creates disparate pathways and opposing market outlooks.
Impacts
Stagnating incomes and high oil prices will limit demand into 2023.
EU sanctions will cause further disruption to Russian oil flows.
Supply increases will remain modest, barring the small possibility of a Saudi surge.
Keywords:
economy,
industry,
foreign trade,
oil,
sanctions,
Fossil fuels,
International,
INT,
Russia,
Saudi Arabia,
Iran,
Libya,
Nigeria,
Venezuela
© Oxford Analytica 2022. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2022
You do not currently have access to this content.
