Insight
Russia/Ukraine crisis: Recession risk and what it means for oil demand
Report summary
The combination of Russia/Ukraine conflict impacts to the global economy and persistent inflation now raises the risk of a potential recession, knocking global GDP off its post-pandemic recovery footing in 2022 and 2023. Our current short-term oil demand forecast is based on a forecast of slowed, but continued GDP growth. In contrast to our base case, this downside risk scenario assumes a recession in both the EU and the US starting later this year and slowed global GDP growth in 2023. We explore the implications for global demand including: • How would the pace of global demand recovery change • Will global liquids demand exceed pre-pandemic levels in 2023? • What regions would see the greatest impact in this scenario? • How is transport fuel demand affected in 2022-2023
Table of contents
- Please download the slide pack on the right-hand side under 'Report downloads'.
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
21 June 2021
Decarbonisation dominoes: what it means for oil and gas companies
Insight
Decarbonisation dominoes: what it means for oil and gas companies
Will the recent successful stakeholder actions trigger a decarbonisation domino effect for oil and gas companies?
$1,35007 January 2020
Our top ten Insights of 2019: WoodMac corporate research
Insight
Our top ten Insights of 2019: WoodMac corporate research
Across the many reports we published last year, which resonated most, how did our forecasts pan out, and what remains pertinent today?
$1,35013 August 2018
Corporate week in brief: US Independents eyeing higher budgets for 2018
Insight
Corporate week in brief: US Independents eyeing higher budgets for 2018
Cost inflation is back in the US tight oil sector. We look at which companies have raised budgets and what this means for production growth.
$700
