The IEA is predicting a moment of growth in demand and, consequently, a rise in crude oil prices in 2023. The trends for the market this year still rely on sustainability projects aimed at fuel exploration.

The International Energy Agency (IEA) has strong projections for the oil and natural gas sector in 2023 for this Tuesday, (31/01). The trends for the year are a high in crude oil prices and new sustainability research and development projects in the segment. The agency points to a strong growth in oil demand, thus causing an increase in prices throughout the global market.

IEA forecasts bullish year in crude oil prices and sustainability trends in the oil and gas sector to 2023

After a year of strong instability in the oil and gas segment, supply crises and international geopolitical conflicts, projections for 2023 point to a radical change in the scenario.

The IEA is projecting a wave of growth in crude oil production in Organization of Petroleum Exporting Countries (OPEC) countries.

As a result of this movement, there may be an increase in fuel prices in international quotations.

This happens because the international market works based on the law of supply and demand. Thus, when there is a greater demand than usual, prices end up being high.

According to the IEA, even with the perspective of world economic weakening, the countries' demand for crude oil will grow.

The main justifications for this movement are the lower temperatures of the European winter and the economic reopening of China, considered the largest consumer market in the oil and natural gas sector.

The 2023 scenario will be shaped in a moment of instability caused in 2022, when there was a reduction in values ​​and production made by the Organization of Petroleum Exporting Countries (OPEC).

Scenario projected for the year 2023 will favor investors in the oil and gas sector, but may impact fuel consumption 

According to IEA projections, a possible rise in crude oil prices could lead to an increase in the potential for investments in the sector.

In this scenario, there is an expectation of appreciation of the shares of companies in the sector. Companies such as Petrobras (PETR3), PetroRio (PRIO3), Petroleum (RRRP3), PetroReconcavo (RECV3), Enauta (ENAT3) and Dommo (DMMO3) are listed on the Stock Exchange (B3).

Despite this, the lives of fuel consumers can be negatively impacted by the increase in crude oil prices, as pointed out by the IEA.

This is because the increase in values ​​can be passed on to the national market, thus causing an increase in petroleum-derived fuels, such as gasoline, for example.

Furthermore, as most products and services depend on road transport logistics, there is the possibility of a general increase in prices.

In the year 2022, according to the Brazilian Institute of Geography and Statistics (IBGE), Brazil closed the Extended Consumer Price Index (IPCA) at 5,79%.

Despite this, throughout the year, the percentage reached double digits. Thus, the economic scenario in the oil and natural gas market has strongly impacted consumption in the country.

What is currently being seen is a scenario of high prices for various fuels throughout Brazil.

On the other hand, discussions on sustainability, led by the United Nations (UN), gain strength in the oil and gas scenario.

Thus, the IEA's projections point to an oil market increasingly linked not only to fuel prices, but also to the environmental commitment in production.