You're not technically wrong but think about the entire oil and gas production ecosystem. A supermajor outsources the vast majority of their work to services f

You're not technically wrong but think about the entire oil and gas production ecosystem. A supermajor outsources the vast majority of their work to services firms. The seismic is shot by one company, analyzed by another. A land company then obtains the rights to do the drilling on behalf of an oil company. Then the drilling is performed by another company who had all of their tools made by about 20 different companies. Once raw crude is out of the ground/rocks/whatever another company trucks or ships it to a storage facility run by yet another company. It is then refined (usually by a supermajor) and distributed. Think about what will happen when 98% of the companies have gone bust. How quickly will you get the tools and more importantly people back into the industry once the Saudis have run the price of oil up to $300/barrel?