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Economic weakness set to weigh on oil price in 2023 | Business

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Oil prices are set for small gains in 2023, a poll of economists and analysts shows. But most analysts say that oil demand will grow significantly in the second half of the year. The impact of Western sanctions on Russian oil is expected to be minimal.

Oil demand growth is expected to be affected by recession, which will offset supply constraints due to sanctions on Russia.Oil prices are set for small gains in 2023, given low demand growth, a poll of economists and analysts shows.The impact of Western sanctions on Russian oil is expected to be minimal.

US crude is projected to average $84.84 per barrel in 2023, versus the previous month's $87.80 consensus. Brent has fallen more than 15% since early November and was trading around $84 a barrel on Friday as surging Covid-19 cases in China depressed the outlook for oil demand growth in the world's largest crude oil importer.

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Can whoever is controlling the interest rates button follow suit pls yerrrrrr...

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