Oil Price Plunge? It's The Global Economy, Stupid!

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by Tyler Durden
Friday, Sep 12, 2014 - 21:40

The decline in the price of oil - in the face of surging geopolitical pandemonium - has been lauded as indicative of both US' awesomeness in energy independence and a tax cut for Americans... but, as the following chart suggests, there may be another - much more realistic - explanation for why oil is plunging... demand!


World GDP expectations for 2014 just tumbled to their lowest since estimates started...


Maybe - just maybe - that explains the price of oil...


Charts: Bloomberg