kirkdsmeeton

I'm more of a fan of the ambiotic oil theory but that's another debate...People invested in oil are concerned about a U.S recession as it would likely lead to lower consumption and oil prices.

I tend to disagree that a recession would result in lower oil prices, at least not in any significant amount A world recession would most definately cause lower oil CONSUMPTION, but the amount of oil being sold won't change very much..There is one thing that people tend not to facture into the equation...If oil prices drop enough then the  U.S.A, China and India will be buying huge quanities to shore up their stategic reserves,,and so will all other countries that keep strategic reserves...This in turn will keep the price of oil rather high.