Maybe, but lots of pundits are now crying for $40's, which can be self-fulfilling. Plus you don't need a long memory to recall when oil collapsed to the $30's on less substantial evidence than we have now. All you need is someone to add credible alternative energy speculations to the mix and oil related stocks could experience another thrashing. Or not.
My play is CPG because I think they are better managed and the share price has already taken a disproportionate nose dive. I'm fully aware it can tank more but that will either be slight in which case I don't care, or steep, in which case I will average down. I'm also aware they could still sacrifice their own dividend, perhaps to seize buying opportunities or to keep their balance sheet from melting down, either of which doesn't bother me.
What I'm more surprised about is how alternatives and things like Tesla haven't collapsed even more. They've been valued on the notion of replacing expensive oil but that thesis has vanished for the foreseeable future.