When to jump back into oil

It's become an old saw: "The world's demand for energy will never cease. Which is why a girl in Kansas is walking a dog..." So, the prices will come back up. The question is when. I'm looking for a low in the $48 range.

Crude-oil futures fell back under $51 a barrel Wednesday morning in a continued response to Saudi Arabia's rejection of calls from major oil producers for further output cuts as a way to stem the almost 17% decline in the price of oil since the start of the year.Crude for February delivery was down 41 cents at $50.80 a barrel on the New York Mercantile Exchange. It traded as low as $50.60 earlier, but that was above Tuesday's 20-month, intraday low of $50.55.

Link: Crude futures fall back below $51 as OPEC output cut hopes fade - MarketWatch