Oil prices like any other commodity are subject to the basic principal of supply and demand
The oil price slump of 2008 was due to low demand caused by the global recession which followed the financial crash.
The oil price slump we see today is due to high supply driven by OPEC
There may well be a recession looming but this is not the indicator I would rely on.
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5 Charts Showing That The Next Economic Crash Is Dead Ahead
Oil prices like any other commodity are subject to the basic principal of supply and demand The oil price slump of 2008 was due to low demand caused by the global recession which followed the financial crash. The oil price slump we see today is due to high supply driven by OPEC There may well be a recession looming but this is not the indicator I would rely on.