Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
Drop in Global Oil Demand Remarkable; The canary in the coal mine
Topic Started: 21 Sep 2014, 05:30 AM (1,404 Views)
goldbug
Default APF Avatar


Drop in global oil demand ‘nothing short of remarkable’
September 14, 2014

In an ominous sign for the global economy, the International Energy Agency (IEA) has said a sudden drop in oil demand for the second quarter of 2014 is “nothing short of remarkable.”

The second quarter saw demand slow to below 0.5 million barrels per day, the lowest level in two and a half years. The IEA has “revised down sharply” demand forecasts for 2014 and 2015 to 0.9 million barrels per day and 1.2 million barrels per day respectively citing a weaker outlook in both Europe and China. The agency fears Eurozone economies “are getting perilously close to deflation.”

China’s Factory Output Slumps
According to China’s Nation Bureau of Statistics, growth in China’s factory output fell to 6.9 percent in August yoy, the weakest growth since the 2008 recession. Growth is expected to slow further with Xu Gao, chief economist at Everbright Securities in Beijing saying “The August data may point to a hard landing. The extent of the growth slowdown in the third quarter won’t be small,”
http://www.whocrashedtheeconomy.com.au/blog/2014/09/drop-in-global-oil-demand-nothing-short-of-remarkable/
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
Profile "REPLY WITH QUOTE" Go to top
 
newjez
Member Avatar


goldbug
21 Sep 2014, 05:30 AM
Drop in global oil demand ‘nothing short of remarkable’
September 14, 2014

In an ominous sign for the global economy, the International Energy Agency (IEA) has said a sudden drop in oil demand for the second quarter of 2014 is “nothing short of remarkable.”

The second quarter saw demand slow to below 0.5 million barrels per day, the lowest level in two and a half years. The IEA has “revised down sharply” demand forecasts for 2014 and 2015 to 0.9 million barrels per day and 1.2 million barrels per day respectively citing a weaker outlook in both Europe and China. The agency fears Eurozone economies “are getting perilously close to deflation.”

China’s Factory Output Slumps
According to China’s Nation Bureau of Statistics, growth in China’s factory output fell to 6.9 percent in August yoy, the weakest growth since the 2008 recession. Growth is expected to slow further with Xu Gao, chief economist at Everbright Securities in Beijing saying “The August data may point to a hard landing. The extent of the growth slowdown in the third quarter won’t be small,”
http://www.whocrashedtheeconomy.com.au/blog/2014/09/drop-in-global-oil-demand-nothing-short-of-remarkable/
Completely out of the blue. Who would have known?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Profile "REPLY WITH QUOTE" Go to top
 
goldbug
Default APF Avatar


The official line will be because we have such peace on the earth, or because of all the newvo tight oil supplies undercutting the oil price lol.

The only problem with the latter is that when the oil price dops many such ventures become uneconomical to run.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
Profile "REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


goldbug
21 Sep 2014, 06:00 AM
The official line will be because we have such peace on the earth, or because of all the newvo tight oil supplies undercutting the oil price lol.

The only problem with the latter is that when the oil price dops many such ventures become uneconomical to run.
Newvo........New vegetable oil- gold B?
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
lulldapull
Default APF Avatar


Not only this but the hollowed out propaganda on 'local demand' increasing for gas is nothing but hog wash.

There is zero new demand for gas within Australia. I being in the industry happen to know this for a fact.
Profile "REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

lulldapull
21 Sep 2014, 02:35 PM
Not only this but the hollowed out propaganda on 'local demand' increasing for gas is nothing but hog wash.

There is zero new demand for gas within Australia. I being in the industry happen to know this for a fact.
Grunts usually don't know stuff all about their industry. Just like a truck driver in the mines.
"REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


Then global interest rates will have to be slashed to stimulate demand.
Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
herbie
Member Avatar


peter fraser
21 Sep 2014, 08:28 PM
Then global interest rates will have to be slashed to stimulate demand.
It seems to me, that at some point, the artificiality of such an approach, must simply start getting a bit silly Peter.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

Does this mean we don't need to tax carbon anymore??

What am I thinking? Ofcourse they will continue with the tax!
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
miw
Member Avatar


Of course, there is no drop in global oil demand. There is just a reduction in the forecast rate of growth.

All the same, it is considerably reduced the price of oil which should be positive for most businesses.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy