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S&P 500
5,464.62
(
-0.16%
)
US TECH 100
19,220.00
(
-0.20%
)
Dow Jones
39,150.33
(
0.04%
)
Brent Oil
84.39
(
0.00%
)
Bitcoin
64,045.78
(
-0.31%
)
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Timothy Smith

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Timothy Smith

Re: Macgyver250 post# 20934

Friday, 11/27/2015 10:36:45 AM

Friday, November 27, 2015 10:36:45 AM

Post# of 41155
Product supplied, a proxy for demand and consumption, got a lift last year when consumer prices for gasoline and heating oil dropped in the wake of the Thanksgiving OPEC meeting.

Still, demand in the year-to-date is up just 3.0%. Given that prices were about 50% lower in 2015 v. 2014, this suggests a very low elasticity of demand, -.06.

Hopefully declines will do more of the rebalancing in 2016.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty

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