In the 3 weeks since the war started, while the equity markets did decline, the surge in crude oil and gold have led to a bigger concerns regarding the economy. How will it impact the equity markets, oil and gold. What should investors do?
The International Energy Agency (IEA) has lowered its growth forecast for oil demand in 2024 due to global economic conditions and increased energy efficiency. The IEA now predicts a rise of 880,000 barrels per day, down from its previous forecast of 1 million. However, the agency raised its 2023 demand forecast to 2.3 million bpd. OPEC+ has been limiting supplies to support prices, but if extra cuts are removed in January, there could be a surplus.