What do you got the oil's bottom pegged at?
Standard Chartered is predicting $10.
Bond traders had been saying to each other that when oil (WTI) hit it's 2009 low ($32.50 or so) that the bond traders should buy. Then they got fucked down to $29.93 and it's come back up some.
I've seen WTI oil at $10/bbl in 1986, $11/bbl in 1998, $147 in 2008, $32/in 2009 and here we are today.
This is like 1986 so I'd say you'll see oil below $20 this year.