Oil fell sharply Tuesday, but according to these experts prices are set to get better in the long term.
"It has to get worse before it gets better," Darren Horowitz, energy analyst at Raymond James, told CNBC's "Power Lunch." He added that the market will come out stronger within the next three to five years.
In the short term, Janus Capital Group's Kris Kelley doesn't see any positive catalysts for oil. The equity analyst has identified a trifecta that will exacerbate oil fundamentals in the next few weeks.
"Demand has to soften, the supply has yet to rollover, and then you've got a seasonality factor with the refineries going into maintenance season," he noted.
Like Horowitz, Kelley thinks that prices are set to go up in the future.
"We are pretty strong believers that supply will correct this," Kelley told "Power Lunch." "Over the next 12 to 18 months prices are going to have to go back to $50, $60 a barrel."
Despite Kelley's forecast, market watchers remain worried about current crude prices, as demand doesn't seem to outweigh the oversupply in the market.
Not only are lower prices a concern for investors, but growing woes in the energy sector has influenced many to sell the commodity. The fears in the energy sector have spilled over into the financial sectors, as investors worry that loans to energy companies may cause bank stocks to skid.
WTI crude settled down nearly 6 percent at $27.94. Brent closed down almost 8 percent at $30.32 a barrel.
Horowitz thinks that short-term oil could expect more headwinds, particularly if the dollar regains an upward momentum.