Abstract:
In 2022, the global economy slowed down and various over-expected factors triggered crude oil supply concerns. The international oil price climbed sharply and fluctuated dramatically. Looking ahead to 2023, from the perspective of fundamentals and non-fundamentals, in the paper the future trends of the global economy, crude oil supply, inventory, the dollar, gold, future market and geopolitics were analyzed, and the objective calculation of the forecasting model and the subjective judgment of the experts were combined to forecast the international crude oil price trend in 2023. The average international crude oil price is expected to decline in 2023, with tight market supply and demand, continued disturbance of geopolitical factors, and high short-term uncertainty. The average price of Brent and WTI crude oil is expected to reach 82~92 USD/barrel and 77~87 USD/barrel.