"I'm expecting oil prices will dip below $80 and in very short order," said top energy consultant Andy Lipow, of Lipow Oil Associates on CNBC's "Street Signs."
Both pros shared a sentiment that was expressed by many other energy investors on CNBC; that is, the price of oil likely has farther to fall.
Speculation about where crude might stabilize quickly became a hot topic after oil prices plunged more than $3 a barrel during Tuesday's session; the decline was the biggest percentage drop since November 2012.
Read More Crude settles down 4.6%, lowest since June 2012
Chatter on Wall Street suggested the weakness was due to an International Energy Agency forecast, which called for lower demand.