{"id":3173,"date":"2014-12-17T16:02:05","date_gmt":"2014-12-17T21:02:05","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3173"},"modified":"2014-12-17T16:02:05","modified_gmt":"2014-12-17T21:02:05","slug":"oil-prices-as-an-indicator-of-global-economic-conditions","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3173","title":{"rendered":"Oil Prices as an Indicator of Global Economic Conditions"},"content":{"rendered":"

Oil Prices as an Indicator of Global Economic Conditions<\/a>.<\/p>\n

West Texas Intermediate sold for $105 a barrel at the start of July, but ended last week at $58. The most important factor has been\u00a0surging U.S. production<\/a>. But another reason oil prices have slid so much is weakness in demand for the product, which may be related to a slowdown of overall world economic growth. Here I comment on the importance of that second factor.<\/p>\n

\"Price<\/a><\/p>\n

For example, the price of copper fell from $3.27\/pound to $2.93, a 10% drop over those same six months. This of course has nothing to do with the success of people in getting more oil out of rocks in Texas. Softness in demand for commodities like copper and oil may be one indicator of new weakness in the world economy.<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil Prices as an Indicator of Global Economic Conditions. West Texas Intermediate sold for $105 a barrel at the start of July, but ended last week at $58. The most important factor has been\u00a0surging U.S. production. But another reason oil prices have slid so much is weakness in demand for the product, which may be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[151,246,592],"class_list":["post-3173","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-commodities","tag-economy","tag-oil-price"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3173"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3173\/revisions"}],"predecessor-version":[{"id":3174,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3173\/revisions\/3174"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}