A few things to think about. The current oil imbroglio is nothing more than world politics. Basically, it is all about the Syria/Russia alliance and Russia's belligerence elsewhere.
If you remember back when Reagan was president, Russia was brought back to civility, by breaking them economically. Currently, the best way to do that today is by bringing down oil prices to the point of bankrupting Russia. You must ask yourself why the Saudis (one of our closest Mideast allies) have refrained from cutting production? Many think it is to drive American shale oil producers out. But that is foolhardy thinking. Shale oil production may be curtailed, but it exists. And there is no way to eliminate that, no matter who ends up owning the assets of the distressed companies. It is all about Russia. And as soon as that gets settled, oil prices will rebound.
It is why, in my opinion, it is wise to buy shares, while they are depressed, in the stronger and/or those that will survive this. We have seen this before, although for different reasons. So, there is no reason to expect things will remain the same in the oil industry. Perhaps, the accumulation of distressed companies by the major oil companies (to add to there depleted assets) will cause an even greater spike in oil prices, once the political agenda is completed.
WE MUST ALL REALIZE THE DIFFERENCE BETWEEN HOPE & EXPECTAION BASED ON GIVEN FACTS.
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