Is there a dead cat in that barrel of oil?

With all that’s been going on in the credit markets lately it seems that oil gets a sound bite here and there and not much more. Oil ($USO) has sold off substantially lately and the once mighty crude ($150 a barrel in July) closed under $79 a barrel! The crude inventories that typically come out on Wednesdays will come out Thursday this week due to the holiday Monday. Crude could climb higher if OPEC (who controls 40% of the world’s oil output) decides to cut production to drive up demand.