Oil may have had a local peak and price may drop $5 - $15, in a couple of weeks, but it may never be under $50 in the foreseeable future. (I wish I'd be wrong)

Oil is a limited, non-renewable resource where supply to the market is constrained by more than one way, so I believe low oil prices may be a thing of a past.

Of course, politics can have a tremendous effect on price, but that usually only work one way. ( -- jacking up the prices ) .