Oil Prices

[lilvestor]

And crude oil goes under $28... right now even bears like me are shocked at how low prices are.

I must be the exception.

Historically it has gone below $20 so there is likely another 50% downside from now before rock bottom.

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My own forecast a year ago was for prices to hover between $30-$40 USD, $20 sounds pretty crazy to me, over 50% of all global oil production cannot breakeven at that price. I think this is not sustainable unless the currencies of these oil producing nations sink by another 50%, but currencies like the Ruble has already fallen by well over 50% in recent years, how much lower can they go?