The fundamentals for crude oil are improving. For example, Saudi Arabia has not found any major oil field for a long time. Other big oil producers like Iraq, Iran or Nigeria have not found a lot of oil too.
Only the fracking companies have found a lot of oil but they cannot make any money if oil prices are low. (United States Oil Fund LP ETF (USO), Nymex Crude Oil futures, Energy Select Sector SPDR ETF (XLE))