It's not time to buy yet. You will see oil price moving up again in second part of 2009. I read that USA has enough oil in refineries until June.
It was something fishy with oil during Bush administration. They practice manipulations with oil that moved up price and increased profit of oil companies, where Bush and his administration got a lot of shares. It was declared every week that refineries of USA were empty that moved up oil price up to $145.
But crisis created panic in Bush administration and all USA refineries suddenly became full of oil. In fact, we got enough oil up to June. I hope with time we will find out all the truth about manipulations with oil in years 2007-2008.