Bottoming oil? Stephen Schork doesn't think so

Schork: Will be confident of oil bottom when $0
Schork: Will be confident of oil bottom when $0   

Oil may have closed higher Tuesday, but it doesn't seem like oil is anywhere near a bottom, Stephen Schork, founder and editor of The Schork Report, told CNBC.

He pointed to action in the future's market as a telling sign, specifically a big increase in bets that oil will go under $40 by Jan. 21.

"If there is an active market being traded in sub-$40 crude oil today, I don't want to venture that we are anywhere near the bottom at this point," Schork said in an interview with "Closing Bell."

"When we get to zero, that's when I'll be pretty confident that the bottom has been put into oil prices at this point."

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U.S. light crude closed up 3.4 percent, at $57.12 per barrel on Tuesday, after data showed the U.S. economy grew at its quickest pace in 11 years in the third quarter, balancing downward pressure from a supply glut and evidence of weak global fuel demand.

Brent crude for February was last up almost 2 percent, at more than $61 a barrel.

While the U.S. economy looks strong, demand will lag around the globe because of sour economics elsewhere, Schork said. On top of that, Western countries have become more energy efficient, driving fewer SUVs and more electric cars and hybrids, he noted.

"Supply is still going to outstrip demand in 2015," Schork predicted.

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He's also concerned about the instability being created around the world, specifically in the oil-producing countries that have been the driver of demand.

"Take that revenue away from [the Middle East] … take it away from Brazil, from Nigeria, from West Africa, and we are looking at a powder keg in the years ahead if we persist down this road."

—CNBC's Laura Petti and Reuters contributed to this report.