As 2023 gets under way, investors are tracking Russia’s reaction to sanctions on its energy exports, and the odds that OPEC and its allies may opt to rein in production.
Oil fluctuated in the year’s first session as looming slowdowns in major economies threatened to crimp near-term energy demand and traders assessed the possibility of interruptions to Russian crude flows.
In China, President Xi Jinping said that tough challenges remain in the nation’s fight against COVID-19 One-third of the world economy is expected to be in recession, the IMF says. Pictured, a Beijing local.warned that the global economy faces “a tough year, tougher than the year we leave behind,” according to an interview broadcast on January 1. One-third of the world economy is expected to be in recession as the three big economies – the US, EU and China – are all slowing down simultaneously, she said.
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