The year ahead 2023

Essential insights into the big themes fuelling the outlook

As we look ahead to 2023, energy prices appear to hold most sway over the economy and markets.

Lower energy prices could provide a path for a global economic soft landing by insulating consumers and businesses from the most detrimental of cost increases; it could dissuade inflation-targeting central banks from keeping interest rates prohibitively high for longer. Sustained higher energy prices, on the other hand, would result in ongoing stagflationary risks to the global economy and tighter monetary policy for longer, sapping consumption and business investment – including into the energy sector itself.

That’s precisely why energy is the focus of the Year Ahead 2023. In this series of articles below, we explore the impact of energy markets across three major themes that we believe will fundamentally drive the outlook across regions, sectors, and markets.