The low of the year for U.S. crude prices may not be in yet, oil expert John Kilduff said Wednesday.
On CNBC's "Squawk Box," he said Sunday's meeting in Qatar of OPEC and non-OPEC producers on a possible output freeze was "one big joke" because of all the conflicting commentary from the various oil ministers.
"This is going to be the mother of all 'buy the rumor sell the news' events here on Sunday. I think there's no way they come across with any kind of a deal or sufficient rhetoric to satisfy this rally right now," Kilduff said. "I think there will be a pullback starting next week."