@TrendFollower
I understand your point, there will be demand destruction, but you are basing the recovery of oil on just the demand, which will eventually come back maybe in 6 to 12 months.
My point here is that current price levels are not sustainable for none of the 3 main players; saudis, Russia and US. Most of US's shale oil producers will go bust - most of them in Texas, which by the way is 100% Republican. Therefore, I expect Trump to move in the coming weeks to make the 3 players move a bit curtailing production.
With current environment, I see a floor at low-10s, but it is not an easy task to catch the bottom and therefore a gradual entry, like you recommended is the best way here.
Don't get me wrong, I am still shorting oil, but I believe current prices are unsustainable and that production will eventually be cut, regardless of what happens with demand.