Exxon and Chevron maybe better position to gut out lowwer oil prices.

Exxon and Chevron maybe better position to gut out lower oil prices then people think. Why? First of all, both Exxon and Chevron have kept both ends of the business( Upstream and Downstream) Conoco Phillips and Marathon oil spin-off there downstream business a big mistake. While big money is to make in upstream operations if price of oil is high Upstream is exporation and production and it is profitable part of oil business, however, low oil prices make actually boost the bottom line for downstream  operations since they are buyers of crude so margins can be higher with lower crude prices, henceforth, more profit so companies like Exxon and Chevron although making less money on upstream will make more drownstream not enough to made the difference with lose in upstream but does help. Also Exxon and Chevron are big petro-chemicals here too a lower crude price would good for the bottom line.