5 Years Forward

 

Last week the IEA published its much-anticipated Oil 2023 report, after being forced to cancel/postpone two of the previous three releases due to the pandemic and war in Ukraine. This year’s release is one of the few detailed five-year forecasts to be published since the oil markets moved into a new era. Whilst the report is filled with uncertainty, it provides a useful guide for developments in upstream, refining, demand, and trade even if some assumptions might be ambitious.

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