All the standard market indicators suggest low oil prices, but the market stubbornly flies a price of over $80. The world’s largest markets in the OECD are still in the demand doldrums with most indicators of the real economy in the USA heading downwards: employment, industrial production and with them oil demand. Liquids supply was up significantly in 2009 and so stocks of crude oil and products are much higher than normal: usually a sure signal for low oil prices.