WTI crude oil has been in collapse mode in recent months, but can prices fall even further from 17-month lows? I believe the answer is yes and I’ll get to that in a micro-minute. First, I must say I’m bothered by the International Energy Agency (IEA) calling the slowdown in oil demand growth “nothing short of remarkable”. This is true but it’s also not a new idea that dropped from an apple tree and suddenly hit the IEA in the head. At least the notion by the IEA shouldn’t be seen as breaking news.