Headlines like the one screaming the oil crash has caused losses to date of about $1.3 trillion, should be ignored by those that weren't affected by the disaster, as it has brought about opportunities rarely seen in one's investing lifetime.
The demand for oil is never going to go away, and the price it is now at won't remain at that low level for a long period of time. Producers will simply cut back until the price starts to rise to a level that is profitable to them. That of course has already happened, and it will take time until the effect of it works its way through the market.
That said, I don't see oil prices getting a huge bounce in the short term, and those taking a position in the sector, will need to have patience while waiting for the profits. Those in it for the long term will make a lot of money if they don't sell too quickly.
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