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The Real "Death Cross" Of Oil Markets
The 'death cross' of these two energy market indicators is all one needs to know about the oil market...
As Bloomberg notes, total industry oil stocks reported by the International Energy Agency rose for a third month, increasing by 0.5 percent to the highest on record at 2.99 billion barrels.
China’s Beige Book, released last week, showed further economic deterioration in one of the world’s largest commodity-consuming nations in the fourth quarter.
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Until these two indicators change direction, lower-er for longer-er will remain.
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So this is a demand story?
Yes, it always has been, and that's what happens in a depression. Anybody who says anything differently is just full of shit.
The Doctor needs to tow the party line. This is not about traditional oil demand, this is about the transition to green energy to prevent the destruction of the planet via global warming thereby reducing the demand for all hydro carbon energies.. The world economies are fine. Come on, get with the program.
YES its a demand story. And one FACT that you won't hear around here is that that "PEAK CONSUMPTION" in OECD countries occured in ~2005. Yes you read that right 2 0 0 5!
Every single day we need less oil around the world. Every single day. Yet Putin "big dicking" this thing just pumps more "to teach Saudia Arabia a lesson"
Brilliant. Completely brilliant...
https://www.youtube.com/watch?v=Pu1AOImIFME
Here are some signs of a coming recession.
1. Investors in high-yield bonds are expecting to see their first negative return since the start of the credit crisis in 2008.
http://www.marketwatch.com/story/deteriorating-junk-bonds-flash-warning-signs-for-stocks-2015-12-07?dist=afterbell
2. Factory orders continue to drop
http://www.zerohedge.com/news/2015-10-02/us-factory-orders-flash-recession-warning-drop-yoy-10th-month-row
3. Default risk spikes
http://www.zerohedge.com/news/2015-10-02/us-financials-default-risk-spikes-2-year-high
4. M&A set record
http://michaelekelley.com/2015/05/29/mergers-and-acquisitions-set-record/
5. Iron ore prices tumble
http://www.marketwatch.com/story/iron-ore-prices-keep-crashing-adding-to-global-growth-fears-2015-11-30
6. Baltic dry shipping index tumbles
http://www.marketwatch.com/story/shipping-index-falls-to-all-time-low-stoking-fears-about-global-growth-2015-11-19
Here is how to prepare.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Here is how to get your mind off this stuff.
http://michaelekelley.com/category/humor/
Good luck!
That chart made me dizzy.
Guess things are not so rosy for Russia after all. Yeah, they're pumping more oil but getting less and less for it.
And so are the Saudi's and the rest.
It's F Troop.
Well duh! Kinda like saying when the sun comes up, it's morning.
The oil bulls will be flattened before we see bottom
Like they're not already??
Looks kind of deflationary,
Everything happening is deflationary, Long USD short everything else.
Didn't China stuff their strategic reserves, when the price started dropping..
that had to cost them a pretty penny, when it kept dropping further,
Law Offices of Marc S. Henzel Commences Investigation of Companies for Violations of the Federal Securities Laws
9:11 a.m. Today
- PR Newswire - PRF
The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of TerraForm Global International Inc. Investors
7:30 a.m. Today
- BusinessWire - BZX
Wait! Aren't we being told that China is buying every drop of oil Putin can pull out of the ground?
So who is lying?
Putin all smirked up saying China has his back?
OR
China being China which means they only/always look out for China?
Gee, wonder which one is lying...
You forgot the other death cross: cost to extract a barrel and revenue from each barrel.
China YoY decrease 2% from precious plis increase?
Geez.. can't read chart?
Let's see.. China still has POSITIVE birth rates.
http://www.nature.com/news/china-s-birth-rate-won-t-be-dramatically-affe...
So next year china population would still increase. Meaning this is the NEW consumer for energy.
Next, everyone knows about hlw bad smog pollutions in china, right? You know WHY that happens? Cause they still depends so much from coals type of enwrgy.
Well.. now China middle class and upper start making a fuss about this pollutions? What will china do to decrease this polutant? Replace coals with Gas and OILS.
So WHERE the nearest source of GAS & OIKS producers from China PoV? You can EASILY RETROFITS any coals burning furnace (for smelters, heat generations, electricity generations) into gas furnace in notl time at all.
And that is why China makes deals for energy to Russia.
Still can't see it??