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Thread: Will the oil price reduce if US's economy goes its downturn?

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[quote=LEOPOLD219,250171]As every one knows, oil plays a very important role in economy growth. In recent years, the oil price has been increasing for many times. Now the oil price per bucket is above 80 dollars. I guess that it will keep increasing.

In recent days, the real estate in US is fatigued and weak influenced by the credit crisis. Though no evidence shows that US economy will go to its downturn, US economy has been impacted by the credit crisis. Maybe, the economy slowdown will soon arrive. Suppose the average wage reduces sharply, the high-price oil will bring severe sufferings?

Many economists do not think so. They believe that the oil price will reduce sharply if US's economy go to its downturn. US is the largest energy consuming country. If its economy was in recession, the oil price will surely drop sharply.

However, not all people hold the attitude mentioned above. The global economy is developing very fast and other nations's also need oil eagerly. Now that US's economy is in recession, the oil price will be still high.

What do you think? Will the oil price reduce if US's economy is recession?[/quote]

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