RE:WTI 39.50Yes, I agree the lows of 2008 will be taken out and 33 is "very" likely. Technically, everyone keeps mentioning this number, and all indicators it will be will come reality within the month. That being said, this could signal the bottom. The cure for low oil prices are low oil prices. I actually think it is a good thing, as this will start to halt a lot of the production around the world. If the world produces 94 million, and proportionally if 5 percent i.e. (4-5 million barrels a day) is taken off the market - supply destruction is fixed. The scary part many companies will go broke in the process.