Who’d want to be an economist! (Day 225)

Economic dataAt the start of 2014, who would have predicted that oil prices would end up in the doldrums by the end of the year, especially with a slightly more positive economic outlook?

Some of the world’s oil prices are the lowest for over five years with Brent crude oil wallowing below $55 per barrel.

The IEA recently cut the outlook for 2015 global oil demand growth by 230,000 barrels per day to 0.9 million barrels per day on lower expectations for the former Soviet Union and other oil‐exporting countries.

Good luck to those charged with the onerous task of understanding and explaining issues such as the macroeconomics of crude oil.

Continue reading Who’d want to be an economist! (Day 225)