Think back to JuneOil was trading up to $123 in June with everyone touting $140 Oil and then on July 6th Oil entered the $90+ for the first time and over time it started to dip more often into the $90+ till it stayed well this could be seen as a transaction into the $70+ that started Sept 23rd having Oil getting a foothold in the $70+ Oil is very possible of lengthening the time in the $70+ and only further production cuts could help it seems and look how long the first cut lasted for support in keeping Oil in the $85+ 3 weeks. I post back the days leading up to Nov cuts saying that with everything the way it is over time OPEC cuts would be ineffective and didn't have to wait long. if Oil trades the rest of the week in the $70+ that's going to hurt Nov average revenues bring it down and Oil could hit $75 again the bears aren't hibernating this Fall.
Didn't mean to beat up stocks but I'm looking at this with lower $80 Oil returning to the $70 continuing a downtrend until something happens to value Oil at $85+ and you couldn't ask for more reasons for lower Oil,