Commodity Trends

Another Housing Bust On The Way?

Evidence of Another Even More Sweeping Housing Bust is Already Starting to Appear By Elliott Wave International Editor’s note: With permission, the following article was adapted from the October 2014 issue of The Elliott Wave Financial Forecast, a publication of Elliott Wave International, the world’s largest market forecasting firm. You may review an extended version

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Ghawar Oil Field

The World’s Five Most Important Oil Fields

The world currently consumes roughly 82 million barrels of oil a day. These five oil fields produce roughly 9.5 million barrels a day with West Qurna hoping to increase production by another 2 million per day. So together they currently produce about 11% of the total world consumption. If production is increased as anticipated they could be producing as much as 14% of world consumption.

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