Even after plunging almost 40 percent in five months, WTI crude oil prices will continue to fall in coming weeks, according to Oppenheimer senior energy analyst Fadel Gheit.
"Most likely this is not a bottom. Most likely we'll see oil prices going lower," Gheit said Tuesday on CNBC's "Futures Now." "The same traders and speculators that took oil prices from $95 to $70 will also be able to take oil prices from $70 to $60, or even $55."
Gheit said it's difficult to put a number on the bottom, because "once you get to a certain level you are going to see a lot of speculation. Speculation usually overheats oil prices on the way up, and really brings them down hard on the way down."