Is The Oil Implosion Supply Or Demand Driven? Here Is The Very Simple Answer, Thanks To Saudi Arabia

There has been much debate whether the crude price implosion has been due to excess supply or not enough demand. Here, courtesy of the oil minister at the world's largest crude supplier, is the answer:

• NAIMI SAYS DEMAND FOR OIL SLOWED MORE THAN EXPECTED: SPA 
• NAIMI SAYS GLOBAL ECONOMY SLOWDOWN LARGELY BEHIND MKT PROBLEM

Which, of course, to anyone with even the most rudiemntary logic and charting skills, should not come as any surprise.

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