Sinkholes, caveins, and such are caused by removal of natural resources much closer to the surface. Things such as salt, coal, etc..
As far as pumping water into the "empty" oil wells to lower ocean levels... Well, it would make a literal spit in the ocean's difference.
According to the NOAA, there is about 352,670,000,000,000,000,000 gallons of water in the oceans. That's 8,396,904,761,904,761,904 barrels of water. That's quintillion.
IIRC someone earlier said the earth uses 52,000,000 barrels of oil in a year. That's .0000000062% of the total water in the ocean.
Besides it would probably come back up as steam anyway.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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