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.