The storm for oil is not over but at least for the time being it is less volatile than the headline-grabbing moves of the last few days. It is clear that any additional cut by OPEC would only be a temporary solution and not a definitive one. Moreover, many producers will struggle with further cuts, even if this seems to be the only alternative to ultra-low prices. On a separate note, once we get closer to the next expiry, it is entirely possible for prices to go negative again if the tanks remain full leaving no home for the oil that needs to be delivered.
