Everyone is offering some secret specialised insight into why oil is where oil is, when the only issue is the basic market forces of supply, demand and greed.

Countries cut production in order to raise prices, while the US simply fills the perceived void to keep the system oversupplied.

The only victims remain to be the oil workers who have no choice but to believe that oil will rebound to even greater levels and save their wretched mortgaged lives.  No thoughts of the technological change which brought about the over surplus situation and the fact that it is not going away.