You have lower oil prices, you have a healthy employment situation and you have a consumer that is still willing to do a little bit of spending. That all adds up to a positive for the economy.

This is the IMF at its best working to bring oil producers and consumers together.

Oil futures are looking forward to a much colder-than-expected winter as forecast by many meteorologists. The fact that we have had so many refineries shut down means we are going into this winter on perhaps not enough heating oil.

Oil futures are looking forward to a much colder-than-expected winter. The fact that we have had so many refineries shut down means we are going into this winter on perhaps not enough heating oil.

I'm not working class anymore,' he said. 'I'm lower-middle. I use three types of oil in my kitchen. Admittedly one of them is WD-40, but that counts, doesn't it?

A year ago some said that the doubling of oil prices would push our inflation far beyond target and that a recession was required to slow the increase in house prices.