Timing the oil and gas sector is so difficult to do, which is why we often tell people to limit their allocations to the sector and pick a few individual companies instead of the entire industry. This is exactly why we have a stock like Canadian Natural on the Foundational List and Tourmaline Oil on the Bull List and outside of that you don't see too many mentions of energy companies.
It is possible that a recession could cause oil prices to slip even further and in that situation you'd no doubt see some pricing pressure on stocks and ETFs.
Long term investments in the energy sector have proven to be relatively poor investments compared to total market returns. I wish I could tell you where the price of oil is going to go, but I can't. In fact, there have been many major pundits, those who are very respected, who swore that the underlying numbers indicated oil is going to go through the roof pricing wise. Instead, we have oil trading 41% off of 2022 highs.