IIR's January 9 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
The Top 10 Global Risks of 2023		6- Energy crunch A combination of geopolitics, economics, and production factors will create much tighter energy market conditions, particularly in the second half of 2023, raising costs for households and businesses, increasing the fiscal burden on importing governments and widening the rift between OPEC+ and major consumers.	Time	IIR's January 3 Market Scorecard Brings You Breaking Geopolitical News
Oil jumps 3% on demand optimism as China borders reopen		Oil extended gains on Monday, rising more than 3% after China's move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns... "If recession is avoided, global oil demand and demand growth will remain resilient," said Tamas Varga of oil broker PVM, adding that developments in China were the main reason for Monday's gains.	FXEmpire	Texas Oil Patch Job Prospects Are Merry and Bright
A new world energy order between China and the Middle East is taking shape		...While China has for some time been buying increasing amounts of oil and liquefied natural gas from Iran, Venezuela, Russia and parts of Africa in its own currency, President Xi Jinping's meeting with Saudi and Gulf Co-operation Council leaders in December marked "the birth of the petroyuan," as Credit Suisse analyst Zoltan Pozsar put it in a note to clients. According to Pozsar, "China wants to rewrite the rules of the global energy market," as part of a larger effort to de-dollarize the so-called Bric countries of Brazil, Russia, India and China, and many other parts of the world after the weaponization of dollar foreign exchange reserves following Russia's invasion of Ukraine.	Financial Post	China's Sinopec Hikes Investments in Hunan Province
Fear, Uncertainty Grip U.S. Shale Despite Price Optimism		Companies looking for oil and natural gas in the U.S. shale patch should be relatively comfortable based on the current price of oil, survey results showed, though the overall outlook is uncertain. Economists at the Federal Reserve Bank of Dallas interviewed 152 energy firm executives from December 7 to 15 to get a gauge of optimism in the sector. In manufacturing, the Fed found that growth resumed in December, though new orders slumped for the seventh straight month amid declining global demand.	IIR News	Fear, Uncertainty Grip U.S. Shale Despite Price Optimism
Global food prices in 2022 hit a record high amid drought and war		Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia's war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide.	NPR	U.S. Gears Up for $12 Billion in 1Q23 Food & Beverage Project Starts
Week 01/02/23 - 01/09/23		To be Optimistic or Pessimistic in this New Year one wonders: from a market perspective one is optimistic with China opening up - which will increase energy demand & mayhap limit the impact of a possible global recession. Though from a Western world perspective pessimistic that China & the Middle East wish to re-write the world energy order which could affect mostly dollar denominated financial markets; thereby, making a potential global recession worse. One could be optimistic that for the most part Old Man Winter has only briefly visited - in the extreme - during this Winter in the Northern Hemisphere. But then pessimistic because the world is and will be wrestling with growing global hunger stemming from drought & war. Though one is optimistic that much is being accomplished throughout the world in the energy transition to ensure a sustainable future; however, pessimism abounds in the present as the Global Energy Crunch is likely to become a Calamity here in 2023 which will embroil many nations and raise tensions to unprecedented levels on the World Stage.
*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.

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