Western Canada Select oil selling at $16.61 a barrel

"The key drivers are pretty much the same. We're seeing further concerns about growth in China.… That's leading to further declines in oil prices, and that obviously is having an impact on the domestic market as well as global markets as a whole."
Canadian oil fared even worse, with a barrel of the oil blend from Alberta's oilsands known as Western Canada Select closing at $16.61, down $2.05, its lowest level on record.
"Oil prices have shot through what would be a logical bottom," said Eric Lascelles, chief economist at RBC Global Asset Management. "We are at a level where almost no oil producer is viable, at $30 and below," he said.
"All the same, I can't claim this is a bottom."
In the U.S., markets were mixed, with the Dow Jones up 52.12 points at 16,398.57, while the S&P 500 gained 1.64 points to 1,923.67. Meanwhile, the Nasdaq slipped 5.64 points to 4,637.99.
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Canadian dollar sinks to 70 cents US as oil drops to $31 a barrel