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Commodities Drop-In: How recession and war will drive prices in 2023

The outlook for commodity prices has rarely felt more complex: while a looming global recession is set to drag on demand, the ongoing war in Ukraine is likely to mean some markets will remain jumpy over supply concerns. What will this all mean for prices in 2023?

Chief Commodities Economist Caroline Bain lead a discussion with our commodity economists about the supply-demand picture and price expectations through the end of next year, addressing key takeaways from our Q4 Commodities Outlook, including:

  • What global recession will mean for oil demand;
  • Whether European natural gas prices have much more downside;
  • What China’s economic slowdown will mean for metals prices.
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