At every price stability, there follows another forecast. $28. Is this the bottom? Problem:EIA raised its supply forecast.Oil inventories will jump to 517M, from 500M barrelsChina demand weakChina banking unstable - how much in shadow banking? An epic collapse in the bank system (or scares of it) will destabilize oil markets too Counter-argument: Oil is cyclical. Like any other raw material, it, too will bounce. Buy only in increments. Stick with verticals and refineries, but even they will fall as oil prices destabilize. Examples: XOM, BP, COP, CVX.