That may be fine for the Western countries, but it leaves a great deal of the non-Western economies at a great disadvantage. They are more dependent on oil than ever for their economic growth. Oil is playing a significant role in a global economic slowdown. Exacerbating the economic growth pressure is the currency imbalance seen between the US dollar and just about every other currency on the planet. Since global oil is priced in dollars, the effect on weak currency global consumers of crude has been anything but good.
Oil is a central influence in the global economic slowdown.
The information has been there all along. Now that global demand for all hallowed technology products is proving to be cyclical, the reasons for the slowdown are being seen and impounded into financial asset prices. Enough so OPEC is happy and not enough to absolutely kill the global economies. Unfortunately, enough to create corporate margin pressure in a world where pricing power, at least at the retail level, seems almost completely lacking. You know that this information has been there all along.