can't see the price of oil going up very high.

We've seen that US Stocks are tied to Crude as it weakens from these levels.. the reasons could be multi..

As Sovereign Crude Oil producers.. say KSA.. liquidate assets in the US Stock market to fund ongoing operations.. 
..
( http://www.bloomberg.com/news/articles/2016-02-03/managers-bleed-money-as-investors-flock-to-blackrock-doubleline )

Franklin’s CEO Greg Johnson also cited volatility and performance issues to explain his firm’s latest outflow. In the previous quarter, Franklin saw investors pull $28 billion, the biggest quarterly redemption in its history. The company’s biggest funds have bets on emerging-market currencies and energy that have lost ground. Franklin’s assets under management fell 13 percent over the past year.

Aberdeen Asset Managment Plc last month cited the cash needs of sovereign wealth funds as one of the reasons the firm experienced 9.1 billion pounds ($13.2 billion) of withdrawals in the fourth quarter. The wealth funds from oil-producing nations, which boosted their investments when energy prices were high, are taking money back to fill the budget shortfalls created by cheap oil.

“Sovereign wealth funds were set up for a rainy day and that rainy day has arrived,” Aberdeen CEO Martin Gilbert said on a conference call in January. Gilbert in November said that 2016 would be a tough one for the asset management business if oil remained at $45 to $50 a barrel. It sells today for about $30.

furthermore..

( http://breakingenergy.com/2016/02/02/mining-collapse-echoes-subprime-mortgage-crisis/ )

From its peak in 2011 to the beginning of 2016, the global mining sector has gone through a wrenching 90% reduction in global market capitalization, wiping out an estimated US$1.5 trillion. Following the sub-prime mortgage crisis, the International Monetary Fund estimated that financial institutions around the world ultimately lost US$1.5 trillion directly or indirectly from their holdings of subprime mortgage backed securities.

Thus we are seeing interest rates move lower.. and consequently so is the dollar as the Fed can not raise rates in this environment.

( http://www.bloomberg.com/news/articles/2016-02-03/dollar-falls-as-services-industry-slowdown-dims-economic-outlook )

"The currencies market has been at odds with the rates market, and now the rates market is winning," said Peter Gorra, head of foreign-exchange trading in New York at BNP Paribas SA. "There’s a disconnect where the Fed says it’s four hikes while the market says it’s like 0.7 hike this year -- someone is wrong."

 This should auto correct going forward but could be a little bumpy in the short term..  As long as economic growth continues.. Crude Oil demand is poised to continue to grow..

( http://www.bloomberg.com/news/articles/2016-02-01/bofa-the-oil-crash-is-kicking-off-one-of-the-largest-wealth-transfers-in-human-history )

A new note from Francisco Blanch at Bank of America Merrill Lynch, however, puts the oil move into a much bigger perspective, arguing that a sustained price plunge "will push back $3 trillion a year from oil producers to global consumers, setting the stage for one of the largest transfers of wealth in human history."

Blanch and his team already see evidence that the fall in the price of crude is having a positive impact on demand, and say that it could accelerate even further if prices don't pick up. 

Says Blanch: "Alternatively in a lower oil price scenario, e.g. if prices were to average just $40 over the next five years which is close to the current forward curve, demand would grow by 1.5 million barrels per day (per year), which is 0.3 above our base case. Finally, at $20 oil demand would grow by an explosive 1.7 per year on average, 0.5 above the base case, on our estimates."

Meanwhile, in emerging markets, where much of the story of late has been about disappointing economic growth, Blanch still sees huge upside potential in terms of automobile penetration and consumption.

Take China for example, where the strategist sees the oil plunge helping to fuel a boom in SUV sales: "Moreover, the low oil price is encouraging Chinese consumers to buy increasingly larger cars. Sales of SUVs, the heaviest passenger vehicles category, are up 60 percent year-on-year in the last three months, while overall passenger vehicle sales are growing robustly at 22 percent."

 And it's not just emerging markets where the impact of cheaper gasoline is being seen.  After years of stagnation, vehicle miles traveled in the U.S. clearly ticked higher in 2015.

Combine these trends with the decline in, say, Saudi Arabia's foreign exchange reserves, or the stock price of any oil company, and you can see the dramatic wealth shifts now taking place in the world.  

Not saying it's Gonna go down this way.. but it could.  ??