In my view, crude oil is making a bottom. It's a complicated bottom. We will look back someday and say, in 2014-2018 crude oil made its bottom. Known reserves of oil everywhere continue to decline except for fracking but the fracking bubble burst a few years ago.
Now people know that fracking is not magic and that people can lose money in fracking. (Nymex Crude Oil futures, Energy Select Sector SPDR ETF (XLE), Exxon Mobil (XOM), Marathon Oil (MRO), ConocoPhillips (COP))