Recession = declining oil demand

[jean63]

What if the recession announced in the USA led to a fall in demand for oil and also in the price of a barrel?

Fears of recession also affect oil
OIL-BASED OIL COURSES
NEW YORK / LONDON (Reuters) - Oil futures are down on Wednesday in the wake of the stock markets, fears of a recession in the United States and more generally of a global economic slowdown being ominous for demand for black gold.

The outlook for growth in US stocks - statistics will be released on Thursday - is also weighing on crude prices.

The March contract on US crude loses 1,66% to 87,73 dollars, while the same contract on Brent drops 1,14% to 87,44 dollars.

Analysts polled by Reuters anticipate a 2,1 million barrel increase in crude inventories in the week to January 18, a 1,4 million barrel increase in gasoline inventories and a 100.000 barrel drop in inventories of distillates.

The market is also awaiting the OPEC meeting on February 1 and must adapt to divergent statements. Nigeria would therefore support an increase in OPEC production as long as it serves to stabilize the market, Nigerian President Umaru Yar'Adua said on Wednesday. But other members of OPEC consider an increase in production completely unnecessary, especially in view of a seasonal decline in demand in the second quarter.

Analysts also believe that the current drop in prices and the fears of recession, which go hand in hand, do not argue for an increase in production.

Wilfrid Exbrayat

source: http://www.boursorama.com/infos/actuali ... ws=5064527

[Christophe]

Shit ... not good for the econology a low crude price ... now recession also says loss of purchasing power ...

What matters is how much oil you can afford ... not its absolute price ... right?

In any case, I hope that a fall that is too great will not cause abandonment of renewable energy projects ...

[Remundo]

Yes but it is only temporary all that ... it is a coughing on the scale of the massive increase that oil will experience, an increase that is already underway ...

[Christophe]

Well, I wouldn't be so optimistic: a drop in prices for a few months would be enough to bury certain projects ...

You know how bankers "think" ...

If it is not already done, look at the report of the HML ecolo German of Arte ... they were at the limit of the rupture of the project for this reason for a moment ...

[Remundo]

I think I saw this report, with insulating materials and a wood boiler (my memory may not be reliable ...). in any case, now in France, HQE construction is recommended, which should please Capt_Maloche!

Bankers are not that stupid, they sometimes use this as an excuse to disengage from projects that hinder them for other reasons. All bankers know that in the medium / long term, it is good to start with renewables and energy savings.

@+

[jean63]

I think I saw this report, with insulating materials and a wood boiler (my memory may not be reliable ...). in any case, now in France, HQE construction is recommended, which should please Capt_Maloche!

Bankers are not that stupid, they sometimes use this as an excuse to disengage from projects that hinder them for other reasons. All bankers know that in the medium / long term, it is good to start with renewables and energy savings.

@+

Looking for "news", I think I gave the address but the video was not recovered ...

[dirk pitt]

small digging up of post, very topical.
the recession is apparently here and the barrel has dropped.

but what about global oil consumption since August? I did not find much concrete on the net (with figures as I like them)
has consumption actually dropped? and how much?
I ask to see.

the only thing I found is the IEA report of December 5 which is mainly a prospective and did not tell me about the last 4 months.
that said, the IEA predicts that global demand will not increase only 1.2% per year until 2013 instead of 1.6% previously forecast big deal. this increase of global demand consisting of an increase of around 3% from non-OECD countries while demand from OECD countries is expected decrease by 0.4% what a revolution!

if someone finds the figures of world consumption for the last 4 months, it would be interesting but it is a safe bet that the variation is small compared to last year.

[Christophe]

the recession is apparently here and the barrel has dropped.

Recession?

According to the sales figures of the lafayettes gallery: + 10% compared to 2007 in November and +15 to + 20% expected in December.

The € 95 million telethon did not fall from the sky either.
I expected the telethon to take a big slap ... it is nothing ... I do not know how much it was in 2007 (ct + 100M € I think) so the decline is slight. ..

So much the better !! But then would the media lie to us?

Would they be chronic pessimism? Why? For who? Make the crisis worse? To aggravate the general discontent of the French? For what final goal? That the French all hate each other? Well done the "gathering" of sarko ...

[renaud67]

l

Would they be chronic pessimism? Why? For who? Make the crisis worse? To aggravate the general discontent of the French? For what final goal? That the French all hate each other? Well done the "gathering" of sarko ...

Rhôôôôô, the ugly constipationist

[dirk pitt]

I am not too much for the conspiracy theory.

for the word "recession" I am just basing myself on facts that have now been verified: drop in GDP over 2 consecutive quarters.

it is a definition which is worth another, if GDP is a good indicator.

for petroleum, it seems that our addiction is not really affected, obviously.
the notion of low elasticity of oil consumption / price is confirmed.
that's how it is for drugs, whatever the price, you use. when it's expensive, you drool over it to get your dose but you have it. when it's not expensive, that's not why you overdose yourself every morning.