BRIEF-Moody's Says Changed Outlook For The Global Energy Sector To Stable From Positive

BY Reuters | CORPORATE | 09/20/22 12:42 PM EDT

Sept 20 (Reuters) - Moody's:

* MOODY'S SAYS CHANGED OUTLOOK FOR THE GLOBAL ENERGY SECTOR TO STABLE FROM POSITIVE

* MOODY'S SAYS ENERGY CO EARNINGS WILL EASE IN 2023 FROM RECORD LEVELS IN 2022, AS INDUSTRY ADJUSTS TO SLOW GROWTH IN DEMAND AMID GLOBAL ECONOMIC SLOWDOWN

* MOODY'S SAYS IT EXPECTS THE ENERGY INDUSTRY TO CONTINUE TO ADJUST TO SIGNIFICANT DISLOCATIONS IN THE GLOBAL NATURAL GAS MARKETS

* MOODY'S SAYS STRONG EXPORT DEMAND FOR U.S. LNG, HIGH SPOT PRICES FOR NATURAL GAS IN EUROPE AND ASIA WILL CONTINUE TO BOOST U.S. NATURAL GAS PRICES

* MOODY'S SAYS EARNINGS FOR INTEGRATED OIL AND GAS COMPANIES-THE MAJORS-WILL DECLINE MODERATELY FROM RECORD 2022 LEVELS

* MOODY'S SAYS REFINING AND MARKETING COMPANIES WILL GENERATE ROBUST EARNINGS IN 2023

* MOODY'S SAYS GLOBAL CONSUMPTION OF PETROLEUM AND LIQUID FUELS WILL REMAIN ROBUST AND AVERAGE 101.5 MILLION BARRELS PER DAY (BPD) IN 2023

* MOODY'S SAYS WHILE GLOBAL DEMAND FOR FUELS REMAINS STEADY, GLOBAL REFINING CAPACITY IS DECLINING

* MOODY'S SAYS OFS INDUSTRY WILL LIKELY STAY DISCIPLINED ABOUT ADDING CAPACITY AND CONTINUE TO PUSH PRICING, OFS PRICING POWER TO CONTINUE IMPROVING IN 2023

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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