Liberty Energy Inc. CEO Chris Wright said threats to the global economy – from inflation and soaring interest rates in the United States and Europe to pandemic-related lockdowns in China – are real and could impact demand for natural gas and oil.

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However, for exploration and production (E&P) companies and the completion experts such as Denver-based Liberty that work with them, a tight global market for both oil and natural gas likely means volatile but favorable prices and motivation to maintain strong output and meet increasing energy needs across the globe – through this year and the foreseeable future.

“As we look ahead, risks to the delicate balance in oil and gas markets come from both demand and supply,” Wright told analysts after posting third-quarter earnings...