Nov.08 -- West Texas Intermediate crude fell 21 percent from its early October multiyear high to close in a bear market Thursday. Record U.S. crude production, expanding inventories and waivers for Iranian oil purchases given to a number of nations contributed to the price decline. Michael Tran, director of global energy strategy at RBC, and Dan Dicker, founder of The Energy Word, talk with Bloomberg's Alix Steel about oil prices, OPEC and Iran.