Oil is one of the major inputs to the U. S. GDP. WTI crude has fallen from $107 to $66.80 as of this writing. This is highly deflationary. In the short to medium-term, it undermines the inflation prongs of the thesis. Of course this does not change the very long-term outcome. For the foregoing reasons,
Even after dramatic fall in oil, in the wake of OPEC not cutting production, oil is likely to go lower in the medium-term. Here are the nine key points that every investor must understand. The bottoms are typically marked by heavy volume. Please note on the chart that the volume on this new low so

