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Coming ‘oil glut’ may push global economy into deflation

Posted on 16 January 2014

OPEC spare capacity set to reach levels last seen in the depths of the financial crisis in 2009, analysts say. One piece of the jigsaw puzzle is missing to complete the deflation landscape across the West: a slide in oil prices. This is becoming more likely each month.
Turmoil across the Middle East and parts of Africa has choked supply over the past two years, keeping Brent crude near $110 a barrel despite a broader commodity slump. Cotton and corn prices have halved, as has the UBS index of industrial metals. Such anomalies rarely last………………………………………..Full Article: Source

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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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