Everyone has been talking how Oil's problems are supply driven.  But with the BoJ freaking out today by setting rates into negative territory and the steep decline in US GDP, it may just be that Oil has been a leading indicator of a possible global recession, and the confirmation that Oil is in a perfect storm, driven by too much supply and demand falling off a cliff, also.

This article talks about the rising probability of a global recession:

finance.yahoo.com/ne...4.html