{"id":4405,"date":"2015-01-12T06:33:35","date_gmt":"2015-01-12T11:33:35","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4405"},"modified":"2015-01-12T06:33:35","modified_gmt":"2015-01-12T11:33:35","slug":"the-oil-price-fall-an-explanation-in-two-charts","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4405","title":{"rendered":"The Oil Price Fall: An Explanation in Two Charts"},"content":{"rendered":"<div>\n<h3 class=\"post-title entry-title\"><a href=\"http:\/\/petroleumtruthreport.blogspot.ca\/2015\/01\/the-oil-price-fall-explanation-in-two.html\" target=\"_blank\">The Oil Price Fall: An Explanation in Two Charts<\/a><\/h3>\n<p>Don&#8217;t worry. \u00a0It&#8217;s not complicated.<\/p><\/div>\n<div><\/div>\n<div>I offer a simple explanation for the recent fall in oil prices in just two charts.<\/div>\n<div><\/div>\n<div>Oil prices move up and down in response to changes in supply and demand. \u00a0 If the world consumes more oil than it produces, the price goes up. \u00a0If more oil is produced than the world consumes, the price goes down.<\/div>\n<div><\/div>\n<div>That&#8217;s where we are right now. \u00a0The world is producing more oil than it is consuming. The price of oil goes down. \u00a0It&#8217;s that simple.<\/div>\n<div><\/div>\n<div>The chart below shows when the world has been in a production surplus and a production deficit since 2008. Right now, we are in a production surplus so the price of oil is going down.<\/div>\n<div><\/div>\n<div class=\"separator\"><a href=\"http:\/\/1.bp.blogspot.com\/-51e9VU_1bxk\/VLK7wG9wlGI\/AAAAAAAAPGo\/UJKTpZO6Qlg\/s1600\/Chart_SURPLUS-DEFICIT-BRENT_Annotated.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/1.bp.blogspot.com\/-51e9VU_1bxk\/VLK7wG9wlGI\/AAAAAAAAPGo\/UJKTpZO6Qlg\/s1600\/Chart_SURPLUS-DEFICIT-BRENT_Annotated.jpg\" alt=\"\" width=\"320\" height=\"217\" border=\"0\" \/><\/a><\/div>\n<div><\/div>\n<div>(Click image to enlarge)<\/div>\n<div><\/div>\n<div>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Oil Price Fall: An Explanation in Two Charts Don&#8217;t worry. \u00a0It&#8217;s not complicated. I offer a simple explanation for the recent fall in oil prices in just two charts. Oil prices move up and down in response to changes in supply and demand. \u00a0 If the world consumes more oil than it produces, the [&hellip;]<\/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":[3],"tags":[589,1775,596],"class_list":["post-4405","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-price-collapse","tag-oil-supply"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4405","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=4405"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4405\/revisions"}],"predecessor-version":[{"id":4406,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4405\/revisions\/4406"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}