Don’t care much about this.
You can sue these companies into bankruptcy and it won’t change the absolute requirement for oil. Oil workers may find rifles held to their heads to do their work and make oil flow regardless of profit.
But yes, this would end. The people with the rifles would disappear.
When that oil field is empty. They would move on to one that is full.
Point being — it’s air. You HAVE to have it. If something like numbers on a screen about money prevent you from having it, you will just change the numbers by keypress, or trigger pull.
Doesn't matter what the demand is if there is no supply.
You don't just stick a straw into the ground and extract oil.
And you don't just stick a rifle in a petroleum engineer's face and demand oil. There is an entire supply chain of personnel, supplies and equipment required to build, maintain and operate oil wells.