If consumption is up, while price declines, then it is impossible for demand drop to be the only reason. Supply of sub hundred dollar oil has to have increased. This is a mathematical fact. nemteck on Fri, 12th Sep 2014 1:38 pm Who did the graph? It is hard to believe that from June to July the GDP tumbled 100*(2.73-2.49)/2.173 = 11%. In Western countries economists are worried if a GDP goes down 0.3% for the whole year. In this respect, 11% looks like a world depression. And that in a single month! Plantagenet on Fri, 12th Sep 2014 2:12 pm Yes the economy is crappy but US oil demand and global oil demand are UP over the last few years, not down. This means the oil price drop is due to INCREASING SUPPLY, not decreases in demand. Davy on Fri, […]