RE:GXE Entering 2023Mining did the gaining today while oil stocks tanked 4 - 14%. Gear did not bad, losing 5.3%. 2023 will be volatile like 2022 with recession and China demand at the top of concerns
Consumer demand will likely shrug off recessionary concerns as well as high interest rates, gas prices, inflation etc as pent up travel demand appears to trump price inflation. China air travel is surging. The likely result will be higher oil prices for spring and summer same as 2022 because demand may be flexible but supply is not. Recession may have a soft landing, meaning high oil prices are only a rumour away.