Oil prices are low, and likely to stay that way for a while. And while low prices can be brutal for oil producers, they're also an opportunity: When the going gets tough, Big Oil often gets even bigger.
But will the pandemic-induced price collapse lead to dramatic deal-making and companies scaling up? Some analysts aren't holding their breath.
"I do believe that the golden age of the mega deals in oil and gas may be gone," says Muqsit Ashraf, who leads the energy practice for the consulting firm Accenture.