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The IEA and OPEC cut their 2022 global GDP forecasts, citing energy price spikes and supply chain problems. The report also covers China COVID lockdowns and the US and IEA emergency stock releases that have tempered oil prices.
Weaker growth forecasts and central bank rate pressure can dampen demand for energy and ag commodities, offsetting some supply-driven support for feed costs.
ief.orgApr 17, 2022After 129 past bearish report events, BRENT moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.
After 171 past bearish report events, WTI moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
