Sure a demand projection made in 2020 lol, before the oil price spike and no forecast nor projection of an impending recession.
Economics 101 - higher price, lower demand.
Lower price (Ukraine ceasefire) = energy stock tanks,
Higher price (Further sanctions/ geopolitical escalation) or High price staying longer = demand destruction, recession and oil price plunges
Both ways, losing proposition. It is only a matter of time.
If we are to value all stock valuations based on previous assumptions made when the global economy was in a better place, we can remain complacent and lull into a false sense of security.
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