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Oil demand has plunged. Is an oil price crash next?

Summary:
Weekly petroleum status report shows some shockingly weak figures. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman

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Weekly petroleum status report shows some shockingly weak figures.



Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/



Download my podcasts! New one every week. https://www.buzzsprout.com/1105286



Mike Norman Twitter

https://twitter.com/mikenorman
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

14 comments

  1. Hey Mike, could a rise in real interest rates in the US hurt the general stock market and commodities? I think US CPI comes out tomorrow. It will be interesting if it follows the deflationary China CPI data from last night, and how US long bonds react. What's your take on gold performance if real interest rates are rising? Thanks!

  2. One can only hope.

  3. Mr. Norman, I have seen you around in MMT circles for a while now and I never dove into your videos. No reason in particular, I guess I didn't know what to expect, which is to say I had low expectations.

    I was super wrong. I watch all your videos now. You make great content that is very accessible. Subbed and sharing your vids with people I think would get value from them.

    Congrats on the granddaughter, BTW.

  4. @michael Norman. You do a solid job in these videos and your under rated views don't match with subcribes on your channel. So there's value there for sure. Like you I remember back in the day trading in the pits. The stories I could tell. Put hairs on a Nancy boys chest. Had a Delta Force team of corporal's and Sargent's who took no back ward step. Or took no prisoner's. Not like the fashionista's or Nancie boy's today trading today. Mental game was everything. Stay true

    • If you happen to read this Mike…I think Mike’s views would increase a lot if, when he talks about MMT, he used some visual aides; even a dry erase board.
      In many ways, like lots of parts of monetary theory in general, MMT is both simple, yet confusing.

  5. Today's 10-day average Put-Call ratio is 0.706. It has only been that low once in 14 years, on 15/12/2010 at 0.705. It took two months until there was a significant pullback in the S&P, though, starting on 21/02/2011 and reaching -7.4%

  6. Finance & Economics

    Stay at home order in effect throughout California. As soon as Biden comes in it's going nationwide. How does this not effect economic activity? The stock market has to give in at some point.

  7. Mike, 1995 had the same level in the p:c 10 DMA as we have now. We are on the verge of a tech bull like the 90s…only bigger because we are in budget deficit this time.

  8. How can the put/call ratio be anything other than 1:1?

  9. garyseeseverything

    What the status on the Euro?

  10. oil price crash? yes but up side

  11. Kingdom Exploration LLC

    Good stuff brother!

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