My hunch is that, at some point, the Fed will get in on this. They'll scoop up every little drop of oil and put it on their balance sheet. That's when you want to get in long, not now.
And how do we know if and when the Fed will do that? There's value in oil, but short term structure issue. They have a month to figure it out...may not able to find more storage, but there are options and alternatives.
Is there anything they haven't bought? Pretty sure the "AT ALL COSTS BAZOOKA" cat is out of the bag at this point...
The slow drip, drip, drip of conditioning people into accepting that "anything and everything" is eligible to be backstopped.