Cannot see oil at 30 per barrel. US producers are already...

Cannot see oil at 30 per barrel. US producers are already shutting rigs in response to the massive price drop. Oil is not like iron ore, not recyclable and very expensive to frack produce and explore for. Not saying there is no downside, maybe a retest of 45, BUT 30 a barrel will force immediate shutdowns like never seen. Global growth may not be too flash but it isn't that weak.
BHP have shut 16 rigs alone in the US in the last month. The easiest stance to take is a bearish one when a commodity has been smashed. Remember we are talking 110 - 45 in less than 3 months. The saudis are bleeding too at current prices and it wont take long to see oil back at 60 imo