Only time will reveal what this really is. Shale Drilling + Renewables + Environmental Laws + Fuel Efficient Vehicles + Complicated Geopolitics did not factor into the supply/demand equation in the past.
Oil prices might recover quickly, but they might also take 10+ years to recover, nobody really knows. COP might be doomed, but with a recovery in late 2016 or 2017, it might recover and prosper.
OPEC has a mind of its own is unpredictable - no one saw this crash coming, and likewise no one can really predict what will happen in the next year or two. It will be interesting...