Larger problem is from what I understand they cannot stop pumping all together and things are turning critical as far as storage capacity. A problem nobody probably thought of when oil was $60 a barrel. You have low demand and with an all out economic war probably coming with China(depressing demand) this problem not going to get better soon. Don't think this translated to you filing up your 1969 Dodge 426 Hemi Charger with .33 per gallon gas. Won't happen., there is a price where refiners don't make any money and they are not in the making no money business. They will lay off thousands to try and refine less gasoline at profitable price. They will simply stop refining gasoline.
This will be a difficult problem to solve and afraid the boom times for the Baaken oil basin maybe over.