Yes it can, the dollar is increasing in value because the Fed can not support additional QE. Speculators were using these free capital injections to speculate and drive the price of oil higher. Also, a strong dollar means a low oil price.

Furthermore, when oil prices went up, it forced businesses and people, to fundamentally change their lifestyles to reduce oil consumption. At my business alone, I've reduced consumption by 80% over the last decade. Look at oil demand charts, they have fallen off a cliff.

Oil could easily settle in the 30's, and stay there for decades.