RE:Object/Goal should be to produce less oil but for greaterThey can't just start/stop operations with a push of a button.. and unless you pay for massive amounts of storage that you leave unused for the majority of the time until some price crash happens...
The ones that produce at a loss will fail. The ones that don't will continue and profit. If there was someone that could control it all I'm sure they would but then you get a monopoly and that doesn't benefit the consumer at all.