US production nearly at 11m p/d. Investors starting to worry that an over supply will be met with less demand globally. Stockpiles are also increasing. From here I would expect a decline to around $58/57 before a pull back to around $61-$63. If the fundamentals align this would allow institutions to flush out longs to around $55. If production keeps increasing OPEC will start wanting to cut supply, hence a bounce back around $55.