S&P Global Vice Chairman Daniel Yergin revealed on Tuesday whether gas prices will continue to rise or if they hit a peak from the World Economic Forum in Davos, Switzerland.
S&P Global Vice Chairman Daniel Yergin forecasts what will happen to gas prices as China's economy reopens following COVID shutdowns.is in a "crisis," noting that "the market is very tight right now in terms of supply." " from the World Economic Forum in Switzerland on Tuesday, Yergin noted that the energy market "was tight before the Ukrainian crisis" and now it is "being disrupted by the direction of flows.
Shanghai, a city of 25 million, has been under strict lockdown for weeks due to China’s "zero-COVID" policy. Yergin argued that if China’s economy comes back strongly, "that’s going to really increase global oil demand and put more pressure on the market." S&P Global Vice Chairman Daniel Yergin warns gas prices could continue to rise as China reopens its economy following weeks of COVID shutdowns.
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