....what’s going on? A global imbalance of supply and demand....
Occam’s Razor applies.
My pet theory, QE stopped flowing, hedge funds and investment banks lost their free money to gamble and speculate on oil futures, price per barrel adjusted down to the actual demand curve.
With 98M not looking for jobs, a majority of Millenials not driving, and the actual cost of living for the average guy going up, the demand for oil will most likely continue dropping the price.