IIR's January 3 Market Scorecard Brings You Breaking Geopolitical News

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Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
Energy Forecast 2023 - Mostly Lower on Weak China Demand, Economic Contraction		Rising global interest rates are expected to take their toll on the world economy in 2023, pressuring crude oil prices, its products and natural gas. Crude oil, fuel products and natural gas swung wildly in 2022, soaring on tight supplies caused by huge demand from Europe amid the war in Ukraine, then sliding on weaker demand from top importer China, worries about an economic contraction, higher production and weather issues. By the end of the year, crude oil was able to post nearly 10% gains, while natural gas managed to eke out a small gain. Gasoline and distillates were also higher for the year.	FXEmpire	IIR's December 27 Market Scorecard Brings You Breaking Geopolitical News
Ukraine Strikes Russian Forces in Donbas in Deadliest Attack in Months		A Ukrainian strike killed dozens of newly mobilized soldiers in Russian-held territory in the east of the country in the single-deadliest known strike in months, piling pressure on Moscow's military leadership, while Ukraine said it shot down at least 39 drones during another wave of attacks on Kyiv.	WSJ	Holidaze as Russia in Ukraine for the "Long Haul"
Analysts Predict 1 Million Bpd Drop in Russian Crude Output		The European Union's ban on Russian oil products set to come into force on February 5 could lead to a 1 million barrel per day drop in Russian crude oil output for the New Year, commodity analysts for UBS told Insider on Monday. "We expect the European ban on seaborne Russian crude and refined products (to come into force on February 5) to result in a drop of Russian production of at least 1 million barrels per day in 2023, with Russia having difficulties in finding alternative markets," UBS' Giovanni Staunovo, told Insider.	OilPrice	Texas Oil Patch Job Prospects Are Merry and Bright
TC Energy says Keystone pipeline returns to service		Canadian pipeline operator TC Energy Corp (TRP.TO) said on Thursday it had completed a controlled restart of its Keystone crude oil pipeline to Cushing, Oklahoma, safely returning the pipeline to service after a 21-day outage. "The Keystone Pipeline System is now operational to all delivery points," the company said in a statement, while operating "with additional risk-mitigation measures, including reduced operating pressures."	Reuters	TC Energy Awaits Federal Nod on Keystone
Extreme weather in 2022 showed the global impact of climate change		It was another shattering year. Climate change amped up weather extremes around the globe, smashing temperature records, sinking river levels to historic lows and raising rainfall to devastating highs. Droughts set the stage for wildfires and worsened food insecurity. Researchers found themselves pondering the limits of humans' ability to tolerate extreme heat.	Science News	U.K. Permits First Coal Mine in 30 Years
Week 12/26/22 - 01/02/23		Happy Volatile New Year. There are many things uncertain as a calendar flips into a New Year; however, without a doubt we can be certain that 2023 global energy markets will remain quite volatile. As the world's central banks are still wrestling with inflationary pressures, which are driving up interest rates and has the world yet teetering on the brink of a global recession. Not to mention, the war in Ukraine is heating up here in the depth of winter as both Russia and Ukraine lash out with strikes. A war which could lead to yet tighter supply as more sanctions are expected to go into place. This at a time that the Dragon in the East - China - is beginning to wake from the slumber of restrictive COVID policies. However, it might have been best for the world that those policies remained in place as there are signs of yet another COVID outbreak looming. Happy Volatile New Year...
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).