RE:oil
The US is no longer relevant from a consumption standpoint. Yes - they are the world's largest consumer. However, their oil consumption has been flat to modestly in decline in the last 5-6 years.
From a consumption standpoint, the only area that matters right now is China. Low crude prices for 12 months will get their economy firing and will eat up a bunch of oversupply, especially as shale production declines and exploration stops.